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Home/News Feed/Devon Energy stock target raised amid merger and earnings drop forecast

DVN

$42.57

-$0.36 -0.84%

Devon Energy stock target raised amid merger and earnings drop forecast

Analyst Insights

29 Apr 2026

Rayan Ahmad

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Bullish

Analyst Nick Pope raised Devon Energy's stock price target to $57, signaling a 15.2% potential gain despite an expected 20% drop in earnings per share and 7% revenue decline in the upcoming May 5, 2026 report. Investor Kimmeridge is pushing for asset sales and better capital allocation following Devon's merger with Coterra Energy to boost shareholder returns. Devon Energy remains a key player in oil and gas with a $30.75 billion market cap, navigating challenges but showing resilience in stock performance.

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Devon Energy targets $2B synergies and strong cash flow post $28B Coterra deal, with 70% FCF to shareholders.

Devon Energy, now a $50 billion upstream company after acquiring Coterra for $28 billion, aims to achieve $2 billion in synergies by the end of 2027. The merger boosts production guidance to 1.4 million barrels per day and plans $4.9 billion in capit...

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