Devon Energy (DVN) – Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Devon Energy (NYSE: DVN):

• 2/24/2025 – Devon Energy had its price target raised by analysts at Piper Sandler from $54.00 to $55.00. They now have an “overweight” rating on the stock.
• 2/20/2025 – Devon Energy had its price target raised by analysts at Susquehanna from $50.00 to $52.00. They now have a “positive” rating on the stock.
• 2/20/2025 – Devon Energy had its price target raised by analysts at Truist Financial Co. from $42.00 to $44.00. They now have a “hold” rating on the stock.
• 2/20/2025 – Devon Energy had its price target raised by analysts at Barclays PLC from $43.00 to $44.00. They now have an “equal weight” rating on the stock.
• 2/20/2025 – Devon Energy had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $44.00 price target on the stock.
• 2/18/2025 – Devon Energy was downgraded by analysts at Cowen Inc to a “hold” rating. They now have a $45.00 price target on the stock, down previously from $46.00.
• 1/29/2025 – Devon Energy had its price target raised by analysts at Piper Sandler from $53.00 to $54.00. They now have an “overweight” rating on the stock.
• 1/23/2025 – Devon Energy had its price target raised by analysts at Raymond James from $53.00 to $54.00. They now have an “outperform” rating on the stock.
• 1/15/2025 – Devon Energy was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $45.00 price target on the stock.
• 1/14/2025 – Devon Energy was upgraded by analysts at Benchmark Co. from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock.
• 1/13/2025 – Devon Energy had its price target lowered by analysts at Truist Financial Co. from $43.00 to $42.00. They now have a “hold” rating on the stock.
• 1/10/2025 – Devon Energy had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $50.00 price target on the stock.

Devon Energy Stock Up 2.6 %

NYSE DVN traded up $0.87 during trading on Friday, hitting $34.74. 8,876,214 shares of the company traded hands, compared to its average volume of 7,837,030. The business has a fifty day simple moving average of $35.17 and a 200 day simple moving average of $37.79. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.54 billion, a P/E ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

Hedge Funds Weigh In On Devon Energy

Institutional investors have recently made changes to their positions in the business. Bridgewater Associates LP acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $9,426,000. Legacy Investment Solutions LLC acquired a new stake in shares of Devon Energy in the third quarter worth $8,002,000. Petrus Trust Company LTA increased its position in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after acquiring an additional 17,415 shares during the period. CIBC Asset Management Inc raised its stake in Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. boosted its holdings in Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after purchasing an additional 198,193 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.