UBS Reaffirms Buy on Devon Energy (DVN) as Cost Cuts Accelerate

Devon Energy Corporation (NYSE:DVN) ranks among the stocks with the lowest forward PE ratios. On January 20, UBS reaffirmed its Buy rating and $46 price target for Devon Energy Corporation (NYSE:DVN), ahead of the company’s Q4 2025 earnings. Analyst Josh Silverstein, who boosted the company back in December as part of the firm’s 2026 projection, said Devon’s continued cost-cutting initiative might drive down 2026/27 expenditure.

UBS expects Devon’s impending results to validate efforts toward these goals and highlight solid operational performance that will sustain volumes at the upper end of both oil and overall production estimates.

Meanwhile, on January 16, Benchmark maintained its Buy rating on Devon Energy Corporation (NYSE:DVN), lowering its fourth-quarter EPS projection to $0.73 from $1.01 and EBITDA expectation to $1.60 billion from $1.84 billion, highlighting mark-to-market commodities and pricing disparities.

Benchmark also expects Devon Energy Corporation (NYSE:DVN) to meet the remaining efficiency targets, noting that an additional $100 million is included in the 2026 capital expenditure projection.

Devon Energy Corporation (NYSE:DVN) is a prominent player in the United States energy market, specializing in the exploration, development, and production of oil, natural gas, and natural gas liquids.

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