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Devon Energy Corporation (NYSE:DVN) is included among the 10 Best Dividend Stocks to Buy According to D. E. Shaw.

On June 8, JPMorgan reinstated coverage of Devon Energy Corporation (NYSE:DVN) with an Overweight rating. It also set a $62 price target on the stock after a period of restriction. The firm believes the stock’s current trading levels present an attractive entry point for investors. In a research note, the analyst said Devon offers a “compelling absolute and relative valuation proposition.” The firm also sees opportunities to capture additional synergies and believes a portfolio high-grading process could help unlock further value.

On June 1, Truist raised the firm’s price goal on Devon Energy to $66 from $63. It maintained a Buy rating on the shares. Analyst Gabe Daoud pointed to a Reuters report indicating that Devon had received an $8 billion offer for its Marcellus asset. Daoud added that expectations for a divestiture had increased following the merger’s completion, citing a strong ABS market and generally supportive conditions for asset sales. The analyst noted that investors had anticipated a transaction could materialize relatively quickly after the merger closed.

Devon Energy Corporation (NYSE:DVN) is a US-based oil and gas producer with a diversified multi-basin portfolio, led by its acreage position in the Delaware Basin. The company focuses on the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs).

While we acknowledge the potential of DVN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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