Devon Energy (NYSE:DVN) Rating Increased to Hold at Zacks Research

by · The Markets Daily

Devon Energy (NYSE:DVN – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued 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.

DVN has been the subject of several other research reports. Argus boosted their target price on Devon Energy from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Piper Sandler boosted their price objective on Devon Energy from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Thursday. Siebert Williams Shank increased their target price on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. BMO Capital Markets boosted their target price on shares of Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Capital One Financial reduced their price target on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Read Our Latest Stock Analysis on Devon Energy

Devon Energy Stock Up 2.4%

NYSE DVN opened at $44.53 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. Devon Energy has a 52 week low of $25.89 and a 52 week high of $46.15. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 4.33 and a beta of 0.56. The company has a fifty day moving average of $40.27 and a two-hundred day moving average of $36.78.

Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $17.19 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $1.10 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts predict that Devon Energy will post 4.85 earnings per share for the current year.

Hedge Funds Weigh In On Devon Energy

Large investors have recently added to or reduced their stakes in the company. Caldwell Trust Co purchased a new position in shares of Devon Energy in the 2nd quarter worth approximately $25,000. PFS Partners LLC acquired a new position in shares of Devon Energy during the third quarter worth $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Devon Energy during the 4th quarter valued at $25,000. First Horizon Corp purchased a new stake in shares of Devon Energy during the 3rd quarter valued at $26,000. Finally, Accredited Wealth Management LLC boosted its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. 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: Piper Sandler raised its price target to $59 and kept an “overweight” rating, implying sizable upside from current levels. Piper Sandler raises PT to $59
  • Positive Sentiment: UBS boosted its price target to $55 and reiterated a “buy” rating, another near‑term catalyst supporting the stock. UBS raises PT to $55
  • Positive Sentiment: Devon agreed to an all‑stock, ~$58B merger with Coterra Energy that will create one of the largest U.S. shale producers; management expects substantial operating and cost synergies, and higher oil prices from Middle East tensions increase near‑term revenue/cashflow expectations for the combined company. Devon and Coterra merger
  • Neutral Sentiment: The market reaction is mixed: analyst upgrades and merger scale are supportive, but stock performance will hinge on integration execution, share dilution from an all‑stock deal and how management updates capital allocation after combining portfolios.
  • Negative Sentiment: Zacks Research sharply cut multiple near‑term and FY2026/FY2027 EPS estimates, dropped FY targets substantially and assigned a “Strong Sell” rating — a clear negative that increases short‑term earnings risk and may cap multiple expansion. Q2 EPS Estimates Reduced by Zacks

About Devon Energy

(Get Free Report)

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.

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