Devon Energy (NYSE:DVN) Earns Buy Rating from Analysts at Truist Financial

Truist Financial assumed coverage on shares of Devon Energy (NYSE:DVN) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $63.00 price objective on the energy company’s stock.

Other research analysts have also recently issued reports about the company. Barclays raised their price objective on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Johnson Rice dropped their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 5th. Piper Sandler raised their price target on Devon Energy from $59.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Jefferies Financial Group lifted their price target on Devon Energy from $36.00 to $44.00 in a research note on Monday, March 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.86.

Devon Energy Trading Up 1.9%

DVN stock opened at $51.36 on Tuesday. The company has a market capitalization of $31.84 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy has a one year low of $25.89 and a one year high of $51.85. The company’s 50 day moving average price is $43.58 and its two-hundred day moving average price is $38.06.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. As a group, analysts predict that Devon Energy will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s payout ratio is presently 23.02%.

Institutional Investors Weigh In On Devon Energy

Several institutional investors and hedge funds have recently modified their holdings of DVN. Pacer Advisors Inc. raised its stake in Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after buying an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Devon Energy by 42,376.5% during the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after acquiring an additional 3,600,731 shares in the last quarter. Kimmeridge Energy Management Company LLC boosted its position in Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after acquiring an additional 3,195,862 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after acquiring an additional 2,802,137 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Devon Energy by 608.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock worth $98,721,000 after acquiring an additional 2,314,843 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Key Devon Energy News

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

• Positive Sentiment: Truist initiated coverage with a “strong-buy” / buy recommendation, providing institutional validation that can support near-term demand for the shares. Truist Securities initiates coverage of Devon Energy (DVN) with buy recommendation
• Positive Sentiment: TD Cowen raised its price target to $50 (from $46) and updated its E&P models, signaling improved analyst assumptions about Devon’s cash flow and valuation. TD Cowen Lifts PT on Devon Energy (DVN) to $50 From $46 – Here’s Why
• Neutral Sentiment: CEO Clay Gaspar told CERAWeek Devon will keep activity steady despite the oil-price spike, emphasizing discipline and long-term price signals — a message that supports returns but limits near-term production growth. CERAWEEK Devon Energy to hold activity steady even as oil prices spike, CEO says
• Neutral Sentiment: Market reports note DVN outperformed the broader market session (shares climbed while the market fell), reflecting sector-level strength and headline-driven trading. Devon Energy (DVN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Technical warnings: analysts flag DVN as “overbought” after a >30% quarterly run, raising the risk of a pullback or consolidation despite strong fundamentals. Traders should watch momentum indicators for signs of reversal. Red-Hot Oil Stock Flashing Ominous Bear Signal

Devon Energy Company Profile

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.