# Mizuho Raises Devon Energy Price Target to $68

**Published:** 2026-05-31T14:29:07.000Z  
**Topic:** Oil  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/ec343593-2db8-404c-94a1-0b54f715f4be

Mizuho increased its price target for Devon Energy to $68 while maintaining an Outperform rating, reflecting confidence in the company's market prospects.

Mizuho has increased its price target for Devon Energy (DVN) to $68, up from a previous $62, while maintaining an Outperform rating on the stock [2][3]. This latest adjustment follows a series of positive analyst revisions for the oil and gas producer, signaling sustained optimism regarding its financial trajectory [1].

**Key takeaways**
*   Mizuho raised its price target for Devon Energy to $68 from $62 [3].
*   The firm maintained an Outperform rating on the shares [2].
*   Analysts project a consensus target price of approximately $51, with a high estimate of $68 [1][2].

## Recent Analyst Activity and Company Outlook

The revision reported on May 27, 2026, represents the second notable adjustment by Mizuho in recent months, following a raise to $62 from $51 in mid-March [1][2]. The firm's current target of $68 stands as the highest among analyst estimates, which range from a low of $37 to the new high [2]. This bullish stance aligns with a broader trend of upgrades from other financial institutions, including Barclays and Piper Sandler, which have also lifted their price targets in early 2026 [1].

Devon Energy operates as a significant producer in top U.S. shale plays, with roughly two-thirds of its production derived from the Permian Basin [1]. The company reported net proved reserves of 2.4 billion barrels of oil equivalent at the end of 2025, an increase from the previous year [1]. Analysts

## Sources
1. Gurufocus — [Mizuho Raises Price Target for Devon Energy (DVN) to $62, Mainta](https://www.gurufocus.com/news/8719898/mizuho-raises-price-target-for-devon-energy-dvn-to-62-maintains-outperform-rating-dvn-stock-news)
2. Benzinga — [Devon Energy Analyst Ratings and Price Targets | NYSE:DVN | Benzinga](https://www.benzinga.com/quote/DVN/analyst-ratings)
3. Tipranks — [Devon Energy price target raised to $68 from $62 at Mizuho](https://www.tipranks.com/news/the-fly/devon-energy-price-target-raised-to-68-from-62-at-mizuho-thefly-news)

---
Cite as: TrendWatcher, "Mizuho Raises Devon Energy Price Target to $68", https://www.trendwatcher.in/article/ec343593-2db8-404c-94a1-0b54f715f4be