Devon Energy (DVN) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Devon Energy (NYSE: DVN) in the last few weeks:

• 5/18/2026 – Devon Energy had its price target raised by Jefferies Financial Group Inc. from $62.00 to $63.00. They now have a “buy” rating on the stock.
• 5/18/2026 – Devon Energy had its price target raised by Wells Fargo & Company from $66.00 to $68.00. They now have an “overweight” rating on the stock.
• 5/17/2026 – Devon Energy was downgraded by Wall Street Zen from “buy” to “hold”.
• 5/15/2026 – Devon Energy is now covered by Evercore Inc. They set an “in-line” rating and a $54.00 price target on the stock.
• 5/13/2026 – Devon Energy had its price target raised by BMO Capital Markets from $60.00 to $65.00. They now have an “outperform” rating on the stock.
• 5/9/2026 – Devon Energy was upgraded by Wall Street Zen from “hold” to “buy”.
• 5/5/2026 – Devon Energy was upgraded by Raymond James Financial, Inc. from “outperform” to “strong-buy”. They now have a $72.00 price target on the stock.
• 4/28/2026 – Devon Energy had its “buy” rating reaffirmed by Roth Mkm. They now have a $57.00 price target on the stock.
• 4/28/2026 – Devon Energy was upgraded by Zacks Research from “hold” to “strong-buy”.
• 4/28/2026 – Devon Energy had its price target raised by Morgan Stanley from $46.00 to $59.00. They now have an “overweight” rating on the stock.
• 4/22/2026 – Devon Energy had its price target raised by Scotiabank from $41.00 to $46.00. They now have a “sector perform” rating on the stock.
• 4/21/2026 – Devon Energy had its price target raised by Susquehanna from $52.00 to $57.00. They now have a “positive” rating on the stock.
• 4/20/2026 – Devon Energy had its “overweight” rating reaffirmed by Wells Fargo & Company. They now have a $66.00 price target on the stock.
• 4/20/2026 – Devon Energy was upgraded by Tudor Pickering from “hold” to “strong-buy”.
• 4/14/2026 – Devon Energy had its price target lowered by UBS Group AG from $61.00 to $60.00. They now have a “buy” rating on the stock.
• 4/14/2026 – Devon Energy had its price target lowered by Capital One Financial Corporation from $64.00 to $63.00. They now have an “overweight” rating on the stock.
• 4/13/2026 – Devon Energy had its price target raised by Jefferies Financial Group Inc. from $44.00 to $53.00. They now have a “hold” rating on the stock.
• 4/13/2026 – Devon Energy had its price target raised by Sanford C. Bernstein from $42.00 to $59.00. They now have an “outperform” rating on the stock.
• 4/8/2026 – Devon Energy had its price target raised by Royal Bank Of Canada from $46.00 to $59.00. They now have a “sector perform” rating on the stock.
• 4/7/2026 – Devon Energy had its price target raised by BMO Capital Markets from $55.00 to $60.00. They now have an “outperform” rating on the stock.
• 4/6/2026 – Devon Energy had its price target raised by Wolfe Research from $64.00 to $65.00. They now have an “outperform” rating on the stock.
• 3/30/2026 – Devon Energy had its price target raised by Citigroup Inc. from $44.00 to $60.00. They now have a “buy” rating on the stock.
• 3/27/2026 – Devon Energy was upgraded by Scotiabank to “hold”.
• 3/27/2026 – Devon Energy had its price target raised by Morgan Stanley from $46.00 to $59.00. They now have an “overweight” rating on the stock.
• 3/26/2026 – Devon Energy had its price target raised by Capital One Financial Corporation from $50.00 to $64.00. They now have an “overweight” rating on the stock.
• 3/24/2026 – Devon Energy is now covered by Truist Financial Corporation. They set a “buy” rating and a $63.00 price target on the stock.
• 3/23/2026 – Devon Energy was upgraded by Truist Financial Corporation to “strong-buy”.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio is 26.74%.

Insiders Place Their Bets

In related news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by company insiders.

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.