Devon Energy downgraded to hold by Wall Street Zen as analysts adjust targets

Equities research analysts at Wall Street Zen lowered Devon Energy’s (NYSE:DVN) rating from "buy" to "hold" in a recent report. The downgrade came alongside mixed views from other firms: JPMorgan initiated coverage with an "overweight" rating and a $62 price objective, while Royal Bank of Canada and Scotiabank set "sector perform" ratings with targets of $59 and $46 respectively. Overall, the consensus rating remains a "moderate buy" with an average target price of $58.44.

Devon Energy reported first‑quarter earnings of $1.04 per share, missing the $1.06 consensus, and revenue of $3.81 billion, down 14.5% year‑over‑year. Insider sales over the past 90 days totaled about $5.26 million, including transactions by senior vice presidents Jeff Ritenour, Adam Velas, and Andrea Alexander. The company’s market capitalization stands at roughly $26.2 billion.