Devon Energy Corp's stock price fell by 5.02% during regular trading, crossing below the 5-day SMA. This decline occurs despite the broader market's positive performance, with the Nasdaq-100 up 0.85% and the S&P 500 up 0.55%.
The current market sentiment reflects a challenging environment for oil stocks, as indicated by recent reports highlighting underperformance compared to the broader market. Investors are advised to consider potential investment opportunities in oil stocks, as anticipated positive developments may provide tailwinds for the sector. This situation suggests a sector rotation, where Devon Energy's stock is moving contrary to the overall market strength.
As Devon Energy prepares for its CEO's participation in the upcoming Goldman Sachs Energy Conference, investor engagement remains a priority. However, the stock's recent performance underscores the volatility in the oil sector, prompting investors to remain cautious while monitoring market trends.
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
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.
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
Wells Fargo
NULL -> Overweight
maintain
$37 -> $43
2026-01-27
New
Reason
Wells Fargo
Price Target
$37 -> $43
AI Analysis
2026-01-27
New
maintain
NULL -> Overweight
Reason
Wells Fargo raised the firm's price target on Devon Energy to $43 from $37 and keeps an Overweight rating on the shares. The oil macro remains pressured, with downside-skewed fundamentals as rising OPEC supply and strong non-OPEC growth point to a near-term surplus and continued price pressure, Wells notes. Amid a softer macro, the firm favors low-reinvestment, capital-disciplined frameworks, with 2026 plans broadly stable across the group.
Susquehanna
Charles Minervino
Positive
maintain
$42 -> $45
2026-01-26
New
Reason
Susquehanna
Charles Minervino
Price Target
$42 -> $45
2026-01-26
New
maintain
Positive
Reason
Susquehanna analyst Charles Minervino raised the firm's price target on Devon Energy to $45 from $42 and keeps a Positive rating on the shares. The firm updated targets in the exploration and production group as part of a Q4 preview. The oil market remains oversupplied following the unwinding of OPEC's voluntary production cuts, which will put downward pressure on pricing when paired with soft demand growth globally, the analyst tells investors in a research note. Susquehanna dropped its 2026 West Texas Intermediate price assumption to $60 per barrel from $65. It remains bullish on long-term demand story for natural gas as well as growing power demand from data centers and electrification.
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Morgan Stanley
Devin McDermott
Overweight
downgrade
$48 -> $46
2026-01-23
Reason
Morgan Stanley
Devin McDermott
Price Target
$48 -> $46
2026-01-23
downgrade
Overweight
Reason
Morgan Stanley analyst Devin McDermott lowered the firm's price target on Devon Energy to $46 from $48 and keeps an Overweight rating on the shares. The firm marked its 2026-27 oil price deck for strip as of January 7 in conjunction with its Q4 preview for the E&Ps, oil majors and Canadian producers. The firm expects "fairly clean" Q4 operational updates but lighter cash flow from price realizations, the analyst tells investors in the preview.
Barclays
Equal Weight
maintain
$40 -> $42
2026-01-21
Reason
Barclays
Price Target
$40 -> $42
2026-01-21
maintain
Equal Weight
Reason
Barclays raised the firm's price target on Devon Energy to $42 from $40 and keeps an Equal Weight rating on the shares. The firm adjusted ratings and targets in the exploration and production group as part of a Q4 preview. The upstream sector's cash return model "remains resilient" amid macro volatility, the analyst tells investors in a research note. Barclays see attractive opportunities in U.S. onshore. It tells investors to "tread carefully" through the near-term commodity uncertainty.
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.
