Wells Fargo Keeps Overweight Rating on Devon Energy, Reduces Price Target to $37
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 17 2025
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Should l Buy DVN?
Source: Benzinga
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Analyst Views on DVN
Wall Street analysts forecast DVN stock price to fall
21 Analyst Rating
17 Buy
4 Hold
0 Sell
Strong Buy
Current: 43.960
Low
35.00
Averages
43.25
High
55.00
Current: 43.960
Low
35.00
Averages
43.25
High
55.00
About DVN
Devon Energy Corporation is an oil and gas producer in the United States with a diversified multi-basin portfolio headlined by an acreage position in the Delaware Basin. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). It owns a portfolio of assets located in the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Its Rockies development consists of its Williston Basin and Powder River Basin assets. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin development is located in western Oklahoma. It has a joint venture with Dow to develop a portion of its Anadarko Basin acreage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Focus on Dividends: The combined company plans to offer a dividend of 31.5 cents per share post-merger, representing a 31% increase from Devon's current payout, which is crucial for attracting investors in the energy sector.
Strategic Expansion: The merger aims to enhance operational efficiency and diversify the combined company's geographic reach, particularly as both companies operate in different shale basins, which may mitigate risks associated with fluctuating oil prices.
See More
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