Morgan Stanley Cuts Devon Energy (NYSE:DVN) Price Target to $63.00

Posted by Francis Steltz on Jun 27th, 2026

Devon Energy (NYSE:DVN – Get Free Report) had its price objective reduced by analysts at Morgan Stanley from $66.00 to $63.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the energy company’s stock. Morgan Stanley’s price objective indicates a potential upside of 49.36% from the company’s current price.

Several other equities research analysts have also issued reports on DVN. Mizuho upped their price target on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Devon Energy from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Jefferies Financial Group lifted their target price on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Devon Energy in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.85.

Read Our Latest Analysis on Devon Energy

Devon Energy Price Performance

Shares of NYSE DVN opened at $42.18 on Friday. 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 has a fifty-two week low of $31.45 and a fifty-two week high of $52.71. The business has a 50 day moving average price of $45.99 and a two-hundred day moving average price of $43.49. The firm has a market cap of $26.21 billion, a PE ratio of 11.75 and a beta of 0.37.

Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. Sell-side analysts expect that Devon Energy will post 4.97 earnings per share for the current fiscal year.

Insider Activity

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy 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 in the company, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 112,371 shares of company stock worth $5,258,059 in the last quarter. 4.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC increased its holdings 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. Ameriflex Group Inc. increased its position in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares during the last quarter. MV Capital Management Inc. purchased a new position in Devon Energy in the 4th quarter worth approximately $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Devon Energy during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Stories Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

Positive Sentiment: Goldman Sachs upgraded Devon Energy to strong-buy, which can boost sentiment by signaling greater confidence in the company’s outlook. Zacks.com
Positive Sentiment: Analyst and investor coverage continues to point to Devon as an attractive E&P name, with commentary noting cheaper valuation, a higher yield, and stronger return on equity than Diamondback Energy. Devon or Diamondback: Which E&P Stock Is the Better Investment?
Positive Sentiment: Wall Street coverage has highlighted bullish hedge fund positioning and meaningful upside potential, reinforcing the view that DVN remains a value-and-income play for investors. What Does Wall Street Say About Devon Energy (DVN)?
Neutral Sentiment: Devon has been among the more searched stocks on Zacks, which suggests rising investor attention but does not by itself change fundamentals. Investors Heavily Search Devon Energy Corporation (DVN): Here is What You Need to Know
Neutral Sentiment: Devon completed a note exchange that simplifies its capital structure, a generally positive balance-sheet move, though the immediate stock impact is likely limited. Devon Energy Simplifies Capital Structure With Note Exchange
Negative Sentiment: Toms Capital taking a top-five stake adds activist pressure for operational improvements and potential asset sales, increasing uncertainty around Devon’s post-merger strategy and capital allocation. Devon Energy (DVN) Faces Fresh Activist Pressure As Toms Capital Takes Top Five Stake

Devon Energy Company Profile

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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.