58/100BDevon Energy stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Devon Energy is 63.00, 36.0% above the current price of 46.32. Their targets range from 54.00 to 68.00.
Of the 17 firms that rated Devon Energy in the past 12 months, 14 rate it buy or strong buy, 3 hold and 0 sell or strong sell (each firm at its latest rating): a Strong buy consensus.
Analysts' 1-year price targets range from 54.00 to 68.00, with an average of 63.00.
| Buy | 14 | |
| Hold | 3 | |
| Sell | 0 |
12-month price target
| Highest target | 68.00 |
| Average target | 63.00 |
| Lowest target | 54.00 |
| Current price | 46.32 |
Devon Energy price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Devon Energy price target and rating?
How analysts rate Devon Energy, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
14 of 17 firms rate it buy now, against 16 of 20 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Devon Energy analyst upgrades, downgrades and price targets
The latest rating change came on 12 November 2026, when Bernstein downgraded Devon Energy from Outperform to Market Perform. The most recent new target came from Morgan Stanley on 15 October 2026: 65.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 12 Nov 2026 | Bernstein | Downgraded · Outperform → Market Perform | — | — | — |
| 15 Oct 2026 | Morgan Stanley Devin McDermott | Reiterated · Overweight | 63.00 → 65.00 | +3.2% | 49.15 |
| 14 Oct 2026 | Scotiabank Mark Lear | — | 45.00 → 61.00 | +35.6% | 49.92 |
| 9 Oct 2026 | Barclays Betty Jiang | Reiterated · Overweight | 58.00 → 60.00 | +3.4% | 48.92 |
| 7 Oct 2026 | UBS Josh Silverstein | Reiterated · Buy | 63.00 → 65.00 | +3.2% | 47.91 |
| 6 Oct 2026 | BMO Capital Phillip Jungwirth | — | 67.00 | — | 47.80 |
| 14 Sept 2026 | Raymond James John Freeman | Reiterated · Strong Buy | 64.00 → 67.00 | +4.7% | 51.23 |
| 14 Sept 2026 | UBS | Reiterated · Buy | 54.00 → 63.00 | +16.7% | 50.23 |
| 3 Sept 2026 | Seaport Global | — | 65.00 | — | 49.03 |
| 17 Aug 2026 | Barclays Betty Jiang | Reiterated · Overweight | 62.00 → 58.00 | -6.5% | 45.85 |
| 13 Aug 2026 | Wells Fargo | Reiterated · Overweight | 66.00 → 65.00 | -1.5% | 44.86 |
| 21 Jul 2026 | Susquehanna Charles Minervino | Reiterated · Positive | 52.00 → 63.00 | +21.2% | 43.96 |
| 16 Jul 2026 | Raymond James | Reiterated · Strong Buy | 66.00 → 64.00 | -3.0% | 42.93 |
| 15 Jul 2026 | UBS | Reiterated · Buy | 58.00 → 54.00 | -6.9% | 43.17 |
| 9 Jul 2026 | Truist Financial | Reiterated · Buy | 66.00 → 61.00 | -7.6% | 42.38 |
| 29 Jun 2026 | Morgan Stanley | Reiterated · Overweight | 66.00 → 63.00 | -4.5% | 42.21 |
| 23 Jun 2026 | Goldman Sachs Neil Mehta | — | 54.00 | — | 43.39 |
| 22 Jun 2026 | Wolfe Research Doug Leggate | — | 67.00 | — | 43.07 |
| 15 Jun 2026 | Raymond James John Freeman | Reiterated · Strong Buy | 72.00 → 66.00 | -8.3% | 45.31 |
| 10 Jun 2026 | UBS | Reiterated · Buy | 60.00 → 58.00 | -3.3% | 46.20 |
| 10 Jun 2026 | Evercore ISI | Upgraded · In Line → Outperform | 54.00 | — | 44.07 |
| 1 Jun 2026 | Truist Financial Gabe Daoud | Reiterated · Buy | 66.00 | — | 44.49 |
| 27 May 2026 | Mizuho Securities Nitin Kumar | Reiterated · Outperform | 51.00 → 68.00 | +33.3% | 45.14 |
| 26 May 2026 | Barclays | Reiterated · Overweight | 52.00 → 62.00 | +19.2% | 47.22 |
| 22 May 2026 | Morgan Stanley | Reiterated · Overweight | 59.00 → 66.00 | +11.9% | 47.44 |
| 7 May 2026 | Jefferies | — | 62.00 | — | 45.31 |
| 5 May 2026 | Raymond James Strong Buy | — | 72.00 | — | 51.26 |
| 28 Apr 2026 | Roth Capital Nick Pope | — | 50.00 → 57.00 | +14.0% | 49.48 |
| 20 Apr 2026 | Wells Fargo | — | 43.00 → 66.00 | +53.5% | 44.23 |
| 14 Apr 2026 | UBS | Reiterated · Buy | 50.00 → 60.00 | +20.0% | 47.27 |
| 27 Mar 2026 | Morgan Stanley | Reiterated · Overweight | 46.00 → 59.00 | +28.3% | 52.07 |
| 24 Mar 2026 | Truist Securities | Upgraded · Hold → Buy | — | — | — |
| 23 Feb 2026 | Barclays | Reiterated · Overweight | 50.00 → 52.00 | +4.0% | 44.39 |
| 20 Feb 2026 | Susquehanna | Reiterated · Positive | 45.00 → 52.00 | +15.6% | 44.37 |
| 19 Feb 2026 | Roth Capital Nick Pope | — | 42.00 → 50.00 | +19.0% | 45.24 |
| 4 Feb 2026 | UBS | — | 46.00 → 50.00 | +8.7% | 42.47 |
| 4 Feb 2026 | Barclays | Upgraded · Equal Weight → Overweight | 42.00 → 50.00 | +19.0% | 41.11 |
| 3 Feb 2026 | Scotiabank Paul Cheng | Reiterated · Sector Perform | 41.00 → 45.00 | +9.8% | 40.66 |
| 3 Feb 2026 | Mizuho Securities Nitin Kumar | — | 43.00 → 51.00 | +18.6% | 40.14 |
| 26 Jan 2026 | Susquehanna Charles Minervino | Reiterated · Positive | 42.00 → 45.00 | +7.1% | 38.54 |
| 23 Jan 2026 | Morgan Stanley Devin McDermott | Reiterated · Overweight | 48.00 → 46.00 | -4.2% | 38.99 |
| 21 Jan 2026 | Barclays | Reiterated · Equal Weight | 40.00 → 42.00 | +5.0% | 38.03 |
| 16 Jan 2026 | Scotiabank | Downgraded · Sector Outperform → Sector Perform | — | — | — |
| 15 Jan 2026 | Scotiabank Paul Cheng | — | 47.00 → 41.00 | -12.8% | 36.32 |
| 5 Jan 2026 | Bernstein | Reiterated · Outperform | 42.00 | — | 38.01 |
| 12 Dec 2025 | Mizuho Securities Nitin Kumar | Reiterated · Outperform | 43.00 | — | 37.55 |
| 12 Dec 2025 | UBS Josh Silverstein | Upgraded · Neutral → Buy | 46.00 | — | 37.55 |
| 11 Dec 2025 | Morgan Stanley | Reiterated · Overweight | 47.00 → 48.00 | +2.1% | 38.02 |
| 8 Dec 2025 | JP Morgan | Upgraded · Neutral → Overweight | — | — | — |
Devon Energy EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Devon Energy's EPS to grow 8.1% a year until 2028.
Analysts expect Devon Energy's revenue to grow 12.2% a year until 2028. Over the last 5 years it grew 28.9% a year, and over the last 3 years it fell 3.6%.
Revenue
EPS
Does Devon Energy beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 6.1% off the result, either way, and their revenue estimate 5.2%, over the last 12 quarters.
- EPS beats
- 100 / 136
- Revenue beats
- 82 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +4.9%
- Since
- March 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 5 Nov 2026 | 1.33 | 1.42 | +6.8% | 6.57B | 6.86B | +4.4% |
| Q2 FY2026 | 4 Aug 2026 | 1.40 | 1.57 | +12.1% | 6.01B | 7.42B | +23.4% |
| Q1 FY2026 | 5 May 2026 | 1.06 | 1.04 | -1.9% | 4.34B | 3.81B | -12.2% |
| Q4 FY2025 | 17 Feb 2026 | 0.81 | 0.82 | +1.6% | 4.00B | 4.12B | +2.9% |
| Q3 FY2025 | 5 Nov 2025 | 0.93 | 1.04 | +11.8% | 4.14B | 4.25B | +2.8% |
| Q2 FY2025 | 5 Aug 2025 | 0.86 | 0.84 | -2.8% | 4.03B | 4.05B | +0.3% |
| Q1 FY2025 | 6 May 2025 | 1.24 | 1.21 | -2.4% | 4.43B | 4.45B | +0.5% |
| Q4 FY2024 | 18 Feb 2025 | 1.00 | 1.16 | +16.0% | 4.21B | 4.62B | +9.9% |
| Q3 FY2024 | 5 Nov 2024 | 1.09 | 1.10 | +0.9% | 3.72B | 3.74B | +0.4% |
| Q2 FY2024 | 6 Aug 2024 | 1.26 | 1.41 | +11.9% | 3.90B | 3.84B | -1.5% |
| Q1 FY2024 | 1 May 2024 | 1.11 | 1.16 | +4.5% | 3.64B | 3.74B | +2.8% |
| Q4 FY2023 | 27 Feb 2024 | 1.41 | 1.41 | 0.0% | 3.88B | 3.82B | -1.4% |
Devon Energy stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Devon Energy's earnings keep growing at the 10.7% a year analysts expect to FY2028, it would earn about 6.51 a share in FY2030. At the P/E it has traded at over the last five years (6.7 to 11.0) that is 43.75 to 71.44 a share, or 56.17 at its average P/E of 8.6. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 5.66 | 38.07 | 48.88 | 62.17 |
| FY2027 | 5.16 | 34.71 | 44.56 | 56.68 |
| FY2028 | 5.31 | 35.68 | 45.81 | 58.27 |
| FY2029 (extrapolated) | 5.88 | 39.51 | 50.72 | 64.52 |
| FY2030 (extrapolated) | 6.51 | 43.75 | 56.17 | 71.44 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 10.7% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (6.7, 8.6, 11.0).
Is Devon Energy stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Devon Energy's P/E of 11.0 is above the middle of its 5-year range (5.6 to 32.2, median 8.7). Analysts expect faster growth than in recent years, which can explain part of the high P/E. At the median P/E of its peers (19.7 × EPS of 4.22), Devon Energy's fair value is 82.95; the price, 46.32, is 44.2% below it. Its forward P/E, on the consensus for FY2026, is 8.2.
Fair value on the peers is the median P/E of the US companies of its industry closest in size times its earnings per share of the last twelve months; the ends of the bar are the same earnings at the lowest and highest peer P/E (10.8 and 39.0). The price against its P/E range
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 10.98
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 8.69
- Five-year P/E range
- 5.6 – 32.2
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 8.18
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 1.02
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +36.0%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.850 | 71.4258Price 35.85193 | +99.2% | |
| 29.050 | 56.2634Price 29.0596 | +93.7% | |
| 241.000 | 464.49205Price 241.00627 | +92.7% | |
| 123.590 | 237.24178Price 123.59297 | +92.0% | |
| 161.400 | 305.52159Price 161.40396 | +89.3% | |
| 157.460 | 297.58169Price 157.46471 | +89.0% | |
| 217.560 | 405.38304Price 217.56507 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.