Devon Energy (NYSE:DVN) +1.1% in Tuesday's trading as Benchmark upgrades shares to Buy from Hold with a $44 price target, saying "M&A noise" is now de-prioritized as Bakken inventory is replinished and Permian targets are deemed dilutive.

With an almost 28% decline in 2024, Devon Energy (NYSE: DVN) is a stock that fell out of favor with the market. The sell-off has arguably been overdone, as the price of oil spent much of last year trading with a $70 per barrel handle and trades at almost $75 per barrel at the time of this writing.

Shares of Devon Energy Corp. DVN advanced 1.12% to $37.18 Tuesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index SPX rising 0.11% to 5,842.91 and the Dow Jones Industrial Average DJIA rising 0.