Investment Analysts’ Weekly Ratings Updates for Devon Energy (DVN)

A number of research firms have changed their ratings and price targets for Devon Energy (NYSE: DVN):

• 6/2/2026 – Devon Energy had its price target lowered by Capital One Financial Corporation from $63.00 to $61.00. They now have an “overweight” rating on the stock.
• 6/1/2026 – Devon Energy had its price target raised by Truist Financial Corporation from $63.00 to $66.00. They now have a “buy” rating on the stock.
• 5/27/2026 – Devon Energy had its price target raised by Mizuho from $62.00 to $68.00. They now have an “outperform” rating on the stock.
• 5/27/2026 – Devon Energy was downgraded by Zacks Research from “strong-buy” to “hold”.
• 5/26/2026 – Devon Energy had its price target raised by Barclays PLC from $54.00 to $62.00. They now have an “overweight” rating on the stock.
• 5/21/2026 – Devon Energy had its price target raised by Morgan Stanley from $59.00 to $66.00. They now have an “overweight” rating on the stock.
• 5/20/2026 – Devon Energy had its price target raised by Citigroup Inc. from $60.00 to $65.00. They now have a “buy” rating on the stock.
• 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.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.32 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is presently 26.74%.

Insider Activity

In other Devon Energy 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.58% of the company’s stock.

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.