UBS Reaffirms Buy on Devon Energy (DVN) as Cost Cuts Accelerate

Group 1 - Devon Energy Corporation (NYSE:DVN) has one of the lowest forward PE ratios among stocks [1] - UBS reaffirmed a Buy rating and a price target of $46 for Devon Energy ahead of its Q4 2025 earnings, highlighting cost-cutting initiatives that may reduce expenditures in 2026/27 [1] - Benchmark maintained a Buy rating but lowered its Q4 EPS projection to $0.73 from $1.01 and EBITDA expectation to $1.60 billion from $1.84 billion, citing mark-to-market commodities and pricing disparities [3] Group 2 - UBS expects Devon's upcoming results to validate operational performance and sustain production volumes at the upper end of estimates for both oil and overall production [3] - Benchmark anticipates that Devon will meet its remaining efficiency targets, with an additional $100 million included in the 2026 capital expenditure projection [4] - Devon Energy is a key player in the U.S. energy market, focusing on the exploration, development, and production of oil, natural gas, and natural gas liquids [4]