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Devon Energy (NYSE:DVN) upgraded at Wall Street Zen. August 15, 2026 Key points. * Wall Street Zen upgraded Devon Energy from "hold" to "buy." Other analysts remain broadly positive, with the stock carrying a consensus "Moderate Buy" rating and an average price target of $59.60. * Devon Energy reported quarterly adjusted earnings of $1.57 per share, exceeding the $1.40 consensus estimate, while revenue rose 73.1% year over year to $7.42 billion. * Shares opened at $45.83, and institutional investors own approximately 69.72% of the company; an insider separately sold 18,000 shares valued at $841,320. * Five stocks to consider instead of Devon Energy. Devon Energy (NYSE:DVN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday. Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of Devon Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Truist Financial lifted their target price 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. Mizuho boosted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Citigroup upped their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Finally, Evercore raised shares of Devon Energy from an "in-line" rating to an "outperform" rating and set a $54.00 price target on the stock in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.60. Devon Energy stock up 3.2%. Shares of DVN opened at $45.83 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy has a 12 month low of $31.47 and a 12 month high of $52.71. The stock's 50 day moving average is $43.40 and its two-hundred day moving average is $45.14. The firm has a market cap of $50.41 billion, a P/E ratio of 10.89 and a beta of 0.38. Discover more EV market analysis Stock market holidays Space stocks report Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results 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. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same period in the prior year, the company posted $0.84 EPS. The business's quarterly revenue was up 73.1% on a year-over-year basis. Analysts predict that Devon Energy will post 4.99 earnings per share for the current fiscal year. Insider activity at Devon Energy. In other news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.58% of the stock is owned by company insiders. Institutional trading of Devon Energy. A number of hedge funds have recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $25,000. JFS Wealth Advisors LLC grew its holdings in Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after buying an additional 245 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Devon Energy in the 4th quarter valued at $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Devon Energy in the 2nd quarter worth $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Devon Energy in the 4th quarter worth $29,000. Institutional investors and hedge funds own 69.72% of the company's stock. About Devon Energy. 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Devon Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Devon Energy wasn't on the list. While Devon Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2026. 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Weak Q2 merger and acquisition activity bolstered by federal oil and gas leases. August 11, 2026 By Mark Jaffe, EUCI energy writer U.S. oil and gas mergers and acquisition (M&A) value fell to $9.1 billion in the second quarter of 2026, the third-lowest quarterly total since 2020, as sector volatility due to the Iran war made it difficult to value properties, according to Enverus Intelligence Research. The deals marked a 76% drop quarter-over-quarter, although the first quarter results were inflated by Devon Energy's $58 billion merger with Coterra Energy. The 2026 first quarter results also marked a 33% drop from a year earlier. More than 40% of second-quarter value came from the U.S. Bureau of Land Management's (BLM) record-setting New Mexico lease sale, which brought in more than $4 billion. The previous auction record of $972 million was set in 2018. "The quarter looks weak on the headline number, but that understates the strength of the underlying bid for inventory," Andrew Dittmar, an Enverus principal analyst, said in a statement. "Crude volatility tied to the Iran conflict and a softening gas outlook likely widened the bid-ask spread and complicated valuations which pushed announced value to one of its lowest quarterly totals in years," Dittmar said. Enverus said it is likely "a temporary negotiation obstacle rather than a demand problem." "Public companies are willing to pay ever-higher prices for tier-one Permian acreage and buyers deploying asset-backed securitization capital are still very much in the market," Dittmar said. Public companies led the bidding in the BLM lease sale. The largest deal was Devon Energy's $2.6 billion acquisition of BLM leases in the Permian Basin. Matador Resources also spent $1.1 billion for Permian BLM leases. The federal auction offered "unique factors" - including lower royalty rates, untouched acreage and the ability to cherry-pick parcels - that contributed to the record prices. Diversified Energy, in partnership with Carlyle, acquired the majority of Camino Natural Resources in the Anadarko Basin for $1.175 billion, and Talos Energy spent $1.7 billion to purchase Shell Gulf of Mexico assets. "The appetite for assets from private buyers was also strong," Enverus said. "The two principal private ABS-fueled buyers, Flywheel Energy and Jonah Energy, remain serial acquirers." Jonah injected fresh capital into the mid-Continent with its $1 billion purchase from Scout Energy Partners. Asset-backed securitization (ABS) buyers represented almost 30% of asset-level deal flow for the second straight quarter. In the last 12 months, they have acquired about $10 billion in assets. "ABS buyers have become the marginal bid for most production-heavy offerings, and that has changed the map. Assets that once traded at a discount because they were inventory-light are now competitively sought after," Dittmar said. ABS has focused on mid-Continent assets, but those in the Williston Basin, which straddles North Dakota, South Dakota, and Montana, and the Denver-Julesburg Basin in Colorado could also be prime targets "given their mature profiles and constrained public-buyer pools," Enverus said. While the BLM Permian Basin auction led the M&A activity, interest in other Permian assets also remained high. "Public companies are willing to pay ever-higher prices for tier-one Permian acreage," Enverus said. For example, in its July sale, Matador paid $1.3 billion for EnCap Investment's Paloma Permian assets. "Higher crude is supercharging both the private sellers coming to market and public company appetite for inventory," Dittmar said. "We expect a much busier second half, with private companies as the primary source of assets and public buyers and ABS capital as the two active bidding groups," concluded Dittmar.