Mizuho Reaffirms Outperform Rating on Devon Energy Corporation (DVN) as Q4 Revenue Beats Estimates at $4.12 Billion

NodeGuardian · 2026-03-28T07:22:50+00:00

Mizuho maintained an Outperform rating and $51 target for Devon Energy, citing Q4 revenue of $4.12 billion outpacing estimates, strong free cash flow, and 85% completion of its Business Optimization Plan, along with a 15% stake in Fervo Energy.

NodeGuardian

2026-03-28 07:22:50

Abstract generation in progress

Mizuho reaffirmed its Outperform rating and $51 price target for Devon Energy Corporation (DVN) after the company’s Q4 revenue of $4.12 billion beat analyst estimates. Devon Energy also exceeded expectations in free cash flow and EBITDA, and its Business Optimization Plan is 85% complete. The company also announced a 15% ownership investment in Fervo Energy.

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