Devon Energy, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Kalei Akamine from Bank of America Securities maintained a Buy rating on the stock and has a $45.00 price target.
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Kalei Akamine’s rating is based on Devon Energy’s strong performance in 2025, which is attributed to a renewed focus on operational execution and strategic initiatives. The company has implemented a series of ‘value creation’ activities, such as improving runtime, optimizing commercial terms on natural gas liquids, reducing financing costs, and enhancing capital efficiency. These efforts have resulted in significant operational improvements and cost savings, including the reduction of the Delaware rig program while maintaining comparable output.
Additionally, Devon’s strategic focus on the Upper Wolfcamp B zone has been a key factor in its success, consistently outperforming expectations and demonstrating high economic value. The company’s financial resilience is further supported by its low breakeven point, which remains competitive even in a soft oil market. With these factors in mind, Akamine believes that Devon Energy is well-positioned for continued outperformance, justifying the Buy rating.