Devon Energy upgraded to Strong Buy after $4.2B asset sale, focusing on Permian and boosting efficiency.

Devon Energy received a Strong Buy upgrade following its $4.2 billion divestiture of Eagle Ford assets, which sharpens its focus on the Permian Basin and improves portfolio quality. Although the company's 2027 production forecast is lowered to 1.603 million barrels of oil equivalent per day, capital efficiency and profit margins are expected to improve as higher-cost assets are sold off. The price target remains at $72 per share, supported by conservative free cash flow estimates and a strong margin of safety at current oil prices. Further divestitures of non-core assets, particularly in the Marcellus and Powder River Basin, are anticipated to enhance strategic focus and shareholder returns.

Devon Energy shares are trading at USD 49.29 on Pluang, down 1.26% as of Oct 17, 2026 03:11 WIB. The stock shows a dividend yield of 2.6% and a market cap of $54.16 billion, with most Pluang investors currently buying rather than selling.