Devon Energy (NYSE:DVN) Stock Gets Price Target Reduction from Truist Financial

Devon Energy (NYSE:DVN) had its price objective lowered by Truist Financial from $65.00 to $61.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company reduced their target price on Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Evercore raised Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Wednesday, June 10th. Citigroup boosted their price objective on Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.19.

Devon Energy Trading Down 1.4%

Devon Energy stock opened at $48.24 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a market cap of $53.07 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. Devon Energy has a 1 year low of $31.47 and a 1 year high of $52.71. The firm’s 50 day moving average price is $47.42 and its two-hundred day moving average price is $46.35.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The firm’s revenue was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, research analysts predict that Devon Energy will post 5.35 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Devon Energy’s dividend payout ratio is currently 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $50.95, for a total transaction of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares in the company, valued at approximately $3,705,084. This trade represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clay Gaspar bought 3,913 shares of the stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the purchase, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This represents a 0.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 4.58% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Kimmeridge Energy Management Company LLC raised its stake in shares of Devon Energy by 56.5% in 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. Morningstar Investment Management LLC boosted its position in Devon Energy by 51.1% during the first quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock worth $4,335,000 after purchasing an additional 29,124 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Devon Energy during the second quarter valued at approximately $33,504,000. Illinois Municipal Retirement Fund grew its holdings in Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after purchasing an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of Devon Energy by 20.0% in the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after purchasing an additional 80,000 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Key Devon Energy News

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

• Positive Sentiment: Devon agreed to sell its Eagle Ford assets in South Texas to Crescent Energy for approximately $4.2 billion in cash. The sale covers about 90,000 net acres and production of roughly 68,000 barrels of oil equivalent per day. Management said the transaction sharpens Devon’s focus on higher-return, longer-duration assets and improves financial flexibility. Devon Energy Announces Agreement to Exit the Eagle Ford
• Positive Sentiment: Proceeds are expected to support shareholder buybacks and debt reduction, potentially strengthening Devon’s balance sheet and increasing per-share returns. The transaction is expected to close around year-end 2026. Devon Energy Eagle Ford Sale to Boost Buybacks and Reduce Debt
• Neutral Sentiment: Crescent said the acquisition would add about 68,000 boe/d and generate targeted annual synergies of $140 million, highlighting the strategic value of the assets but also underscoring that Devon is exiting a significant production base. Crescent Energy’s Devon Deal Strengthens Its Eagle Ford Dominance
• Negative Sentiment: Truist Financial reportedly cut its price target for DVN, although it maintained a Buy rating. A lower target may be limiting enthusiasm around the stock despite the favorable asset-sale narrative. Devon Energy Stock Price Target Cut by Truist Financial

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources.

Devon’s operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.