JPMorgan Chase & Co. Reiterates Overweight Rating for Devon Energy (NYSE:DVN)

Posted by Brian Himes on Jun 8th, 2026

Devon Energy (NYSE:DVN – Get Free Report)‘s stock had its “overweight” rating reissued by JPMorgan Chase & Co. in a report released on Monday,Benzinga reports. They currently have a $62.00 price objective on the energy company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 40.07% from the stock’s current price.

DVN has been the subject of several other research reports. Truist Financial upped their price target on Devon Energy from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. TD Cowen boosted their price objective on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Zacks Research downgraded shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Evercore assumed coverage on shares of Devon Energy in a research note on Friday, May 15th. They issued an “in-line” rating and a $54.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.67.

Read Our Latest Stock Report on DVN

Devon Energy Stock Performance

NYSE DVN opened at $44.27 on Monday. The firm has a market cap of $27.51 billion, a P/E ratio of 12.33 and a beta of 0.37. Devon Energy has a 52-week low of $31.45 and a 52-week high of $52.71. The business’s 50-day moving average price is $47.61 and its 200 day moving average price is $42.81. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was down 14.5% on a year-over-year basis. On average, equities research analysts expect that Devon Energy will post 4.41 earnings per share for the current year.

Insiders Place Their Bets

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DVN. Woodline Partners LP grew its holdings in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after acquiring an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new stake in Devon Energy during the second quarter worth $403,000. Jump Financial LLC boosted its position in Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after purchasing an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Devon Energy by 17.8% in the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Devon Energy by 6.0% in the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after purchasing an additional 8,127 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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.