Devon Energy (NYSE:DVN) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Devon Energy (NYSE:DVN) from a strong sell rating to a hold rating in a research note published on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Devon Energy’s Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.79 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.72 EPS, FY2026 earnings at $2.86 EPS, Q1 2027 earnings at $0.58 EPS, Q2 2027 earnings at $0.93 EPS, Q3 2027 earnings at $0.88 EPS, Q4 2027 earnings at $0.91 EPS, FY2027 earnings at $3.30 EPS and FY2028 earnings at $4.06 EPS.

A number of other equities analysts also recently commented on DVN. TD Cowen upgraded Devon Energy to a “hold” rating in a research note on Monday, February 9th. Roth Mkm reaffirmed a “buy” rating and set a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Piper Sandler boosted their price target on Devon Energy from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group upped their price target on Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Raymond James Financial raised their price objective on Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. Twenty-three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.00.

Devon Energy Stock Up 0.8%

Shares of DVN stock traded up $0.36 during mid-day trading on Wednesday, reaching $44.88. 4,246,852 shares of the company were exchanged, compared to its average volume of 11,335,656. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The business’s 50 day simple moving average is $40.27 and its 200 day simple moving average is $36.78. The company has a market capitalization of $27.83 billion, a P/E ratio of 10.76, a P/E/G ratio of 4.33 and a beta of 0.56. Devon Energy has a fifty-two week low of $25.89 and a fifty-two week high of $46.15.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Research analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. Devon Energy’s payout ratio is 23.02%.

Institutional Trading of Devon Energy

Several hedge funds have recently bought and sold shares of the company. Caldwell Trust Co bought a new position in Devon Energy in the 2nd quarter worth about $25,000. PFS Partners LLC bought a new position in Devon Energy in the 3rd quarter worth approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Devon Energy in the 4th quarter worth approximately $25,000. First Horizon Corp acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $26,000. Finally, Accredited Wealth Management LLC increased its position in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Trending Headlines about Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Devon agreed to a ~$58 billion all‑stock merger with Coterra, creating one of the largest U.S. shale producers; the deal is expected to deliver operating and cost synergies and is a primary driver of investor optimism. Devon And Coterra Merger Reshapes Shale Outlook
• Positive Sentiment: Piper Sandler raised its price target to $59 and assigned an “overweight” rating — implying ~30% upside from current levels — supporting upside momentum. Piper Sandler PT Raise
• Positive Sentiment: UBS bumped its target to $55 and keeps a “buy” rating, reinforcing analyst confidence in Devon’s post‑merger scale and cash‑flow profile. UBS PT Raise
• Positive Sentiment: AmericanBankingNews reported a price target raise to $55, echoing the broader analyst upward re‑rating that supports higher valuations. Price Target Raised to $55
• Positive Sentiment: Macro note — a sector piece highlights that if oil moves toward $100, U.S. E&P names like Devon would benefit materially, which underpins bullish analyst moves. Forget Tech Stocks — Energy Plays
• Positive Sentiment: Zacks upgraded Devon from “strong sell” to “hold,” a modest improvement in sentiment from that research house. Zacks Upgrade
• Negative Sentiment: Zacks cut its Q1 EPS forecast for Devon, a downward revision that could pressure short‑term expectations even as strategic news supports longer‑term upside. Q1 EPS Forecast Decreased
• Negative Sentiment: Zacks also reduced Q2 EPS estimates, signaling some near‑term earnings risk that investors should weigh against merger synergies and analyst target increases. Q2 EPS Estimates Reduced

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.