Mizuho cuts target for Devon Energy stock from USD 68 to USD 65

Published on 10/23/2026 at 11:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The Eagle Ford sale brings USD 4.20 billion on October 8, 2026. Devon Energy stock costs EUR 44.03 on October 23, 2026 against its Xetra close.

Portfolio changes and reporting dates

Mizuho lowered its Devon Energy target from USD 68 to USD 65 on October 16, 2026.
Devon Energy agreed to sell Eagle Ford assets for USD 4.20 billion on October 8, 2026.
Devon Energy stock trades at EUR 44.03 at 11:00 a.m. CEST at Lang & Schwarz on October 23, 2026.
Third-quarter results are scheduled for November 5, 2026.

Makro-Aufnahme von schwarzem Rohöl auf einem verrosteten Metallrohr — Devon Energy US25179M1036 Makro-Aufnahme von schwarzem Rohöl das über ein verrostetes Stahlleitungsrohr fließt, Illustration mit AI erstellt.

Devon Energy stock (ISIN US25179M1036) was trading at EUR 44.03 at Lang & Schwarz on October 23, 2026 at 11:00 a.m. CEST. Mizuho cut its Devon Energy target from USD 68 to USD 65 on October 16, 2026, according to Markets Insider.

Asset sale resets the portfolio

Devon Energy had agreed on October 8, 2026 to sell its Eagle Ford assets to Crescent Energy for USD 4.20 billion in cash. The company said the assets cover approximately 90,000 net acres in Texas and represent approximately 4 percent of its total oil-equivalent production, according to Devon Energy.

Management said the after-tax proceeds are intended for share repurchases and debt reduction. The transaction is expected to close around year-end 2026, subject to regulatory approvals and customary closing conditions.

What does the target cut signal?

Mizuho analyst Nitin Kumar kept an Outperform rating while reducing the target to USD 65 from USD 68 in a third-quarter earnings preview. The change gives investors a concrete counterweight to Devon's portfolio actions, because the target revision points to a more cautious near-term valuation view even as the asset sale improves financial flexibility.

Three dated Devon milestones

On August 4, 2026, Devon reported second-quarter revenue of USD 7.42 billion and diluted earnings per share of USD 2.03, compared with USD 3.81 billion of revenue in the first quarter, according to MarketBeat. On October 8, 2026, the company announced the USD 4.20 billion Eagle Ford transaction. On October 23, 2026, the stock was trading at EUR 44.03 in Berlin morning trading.

Two dates for the next report

Devon Energy will publish third-quarter 2026 results on November 5, 2026, after the close of U.S. financial markets, according to Devon Energy. The conference call is scheduled for November 6, 2026 at 11:00 a.m. EDT.

Portfolio quality meets valuation caution

The Eagle Ford agreement provides a USD 4.20 billion capital-allocation event, while the USD 65 Mizuho target shows that analysts are still weighing commodity exposure and execution risk. The next quarterly report will offer the first detailed update on the sale's effect on Devon's outlook.

Devon Energy was trading at EUR 44.03 at Lang & Schwarz on October 23, 2026 at 11:00 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Devon Energy stock.