Devon Energy Soars on Analyst Upgrades, Iran Conflict

0:00Here's more Durham news for March 19th. Devon Energy Stock is riding high thanks to fresh analyst upgrades in skyrocketing oil prices. Raymond James bumped its price target to $62 from $52 while keeping an out-perform rating. TD Cowan raised theirs to $50 from $46 with a hold rating. This comes as the stock has climbed more than 20% this year so far. The big push comes from the escalating conflict involving Iran, which is shut down shipping through the straight of Hormuz. Tanker traffic has collapsed and attacks on vessels are up, driving Brent crewed above $100 per barrel and peaking at $100. $26. It's the worst energy supply shock since the 1970s. Investors and analysts are buzzing about the impact on energy stocks like Devon. The company just posted fourth quarter revenue of $4.12 billion, beating estimates along with adjusted earnings per share of $0.82 and a 9% free cash flow beat.

1:01Solid cost controls are boosting confidence in their operations. Adding to the momentum is Devon's plan merger with Cotera Energy set for the second quarter of 2026. The deal should create one of the top producers in the lower 48 states with expected synergies of $1 billion annually by 20, 27. Still, uncertainty lingers with the ongoing war. Prolonged tensions could keep oil prices elevated and support gains, but any quick de-escalation might reverse them fast. For now, Devon sits near its 52-week high with the modest price to earnings ratio around 11. The Daily News Now is presented by our sponsor. Your bedtime ritual just got better. Built-in sound, built-in comfort, S-O-L-I, solely pillow.com.