Devon Energy shares rise amid merger discussions with Coterra Energy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 23 Jan 26
Devon Energy Corp's shares increased by 3.00% during regular trading, reaching a 52-week high.
The rise in Devon's stock comes amid reports of merger discussions with Coterra Energy, which could create one of the largest independent shale producers in the U.S. However, the market reaction has been cautious, as Devon's shares fell about 4% previously, indicating mixed sentiment towards the potential deal. Despite this, the overall energy sector is experiencing a recovery, with investor confidence strengthening due to stabilizing energy prices and increasing demand.
This merger could significantly impact Devon's market position, potentially leading to enhanced operational efficiencies and increased market share in the shale industry.
Analyst Views on DVN
Wall Street analysts forecast DVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DVN is 43.25 USD with a low forecast of 35.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
17 Buy
4 Hold
0 Sell
Strong Buy
Current: 39.940
Low
35.00
Averages
43.25
High
55.00
Current: 39.940
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.
