Mizuho Lowers PT on Devon Energy Corporation (DVN) Stock to $40

Devon Energy Corporation (NYSE:DVN) is one of the Most Promising Energy Stocks According to Wall Street Analysts. On September 15, Mizuho lowered price target on the company’s stock to $40 from $43, while maintaining an “Outperform” rating, as reported by The Fly. The firm decided to adjust ratings in the broader integrated oil space after updating the commodity price outlook and valuations. Notably, the firm maintains a relative preference for the large-cap, gas exploration and production companies, having selective exposure to the core oil names.

Amidst the market fluctuations, Devon Energy Corporation (NYSE:DVN) was focused on operational excellence, leveraging its premier resource base and strong financial position to provide healthy Q2 2025 results. Devon Energy Corporation (NYSE:DVN)’s business optimization plan continues to progress rapidly, positioning it to achieve $1 billion in annual pre-tax FCF by 2026 end. For the 2^nd consecutive quarter, the company reduced its 2025 capital by $100 million while increasing the production forecasts, further cementing its FCF trajectory.

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Disclosure: None. This article is originally published at Insider Monkey.