Piper Sandler Issues Positive Forecast for Devon Energy Stock Price

Analysts raise price target on energy company's shares

Published on Mar. 5, 2026

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Piper Sandler, an equity research firm, has raised its price target on shares of Devon Energy (NYSE:DVN) from $55.00 to $59.00 and maintained an "overweight" rating on the stock. The new target price represents a potential upside of nearly 32% from the stock's previous closing price.

Why it matters

This positive forecast from a respected research firm could boost investor confidence in Devon Energy and drive increased buying interest in the stock. The energy sector has seen volatility in recent months, so a bullish outlook from an analyst could provide a needed catalyst for Devon's share price.

The details

In its research report, Piper Sandler cited Devon Energy's strong operational performance and growth potential as reasons for the increased price target. The firm believes the company is well-positioned to capitalize on rising energy prices and continued demand. Several other analysts have also issued positive ratings and price targets on Devon Energy in recent months.

  • Piper Sandler issued the updated research report on Thursday, March 5, 2026.

The players

Piper Sandler

An independent investment banking and institutional securities firm that provides research coverage on Devon Energy and other energy companies.

Devon Energy Corporation

An independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

This positive forecast from Piper Sandler underscores the potential upside in Devon Energy's stock price, particularly as the energy sector navigates a volatile market environment. Investors will be closely watching to see if the company can deliver on the growth expectations outlined by the research firm.