Devon Energy (NYSE:DVN) Price Target Raised to $65.00

05 Oct 2026, 02:38 by Amy Steele · The Cerbat Gem

Devon Energy (NYSE:DVN – Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $60.00 to $65.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

DVN has been the topic of a number of other research reports. Susquehanna boosted their price objective on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Weiss Ratings raised Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Barclays reduced their price target on shares of Devon Energy from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Wall Street Zen lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Truist Financial raised their price objective on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.11.

Get Our Latest Stock Report on Devon Energy

Devon Energy Price Performance

NYSE:DVN opened at $47.65 on Friday. The firm has a market cap of $52.42 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. Devon Energy has a 12 month low of $31.47 and a 12 month high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $46.99 and its two-hundred day moving average price is $46.34.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. On average, equities analysts anticipate that Devon Energy will post 5.27 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.32 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Devon Energy

A number of hedge funds have recently modified their holdings of DVN. Kimmeridge Energy Management Company LLC lifted its holdings in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares in the last quarter. Morningstar Investment Management LLC grew its holdings in shares of 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 buying an additional 29,124 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Devon Energy in the 2nd quarter valued at approximately $33,504,000. Illinois Municipal Retirement Fund raised its position in Devon Energy by 15.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after buying an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Devon Energy by 20.0% in the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after acquiring an additional 80,000 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Company Profile

(Get Free Report)

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.