Zacks Research Predicts Weaker Earnings for Devon Energy

Devon Energy Corporation (NYSE:DVN - Free Report) - Analysts at Zacks Research decreased their FY2025 earnings per share estimates for shares of Devon Energy in a research report issued on Wednesday, July 9th. Zacks Research analyst J. Saha now expects that the energy company will earn $3.82 per share for the year, down from their previous forecast of $3.83. The consensus estimate for Devon Energy's current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Devon Energy's Q2 2026 earnings at $0.98 EPS.

DVN has been the subject of several other reports. UBS Group upped their price objective on Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday. Royal Bank Of Canada lowered their price objective on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Scotiabank upped their price objective on Devon Energy from $35.00 to $40.00 and gave the stock a "sector outperform" rating in a research report on Friday. Citigroup lowered their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, The Goldman Sachs Group upped their price objective on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.79.

Devon Energy Stock Down 2.2%

NYSE DVN traded down $0.75 during trading hours on Friday, hitting $33.22. 6,958,762 shares of the company were exchanged, compared to its average volume of 9,285,172. The company has a 50 day moving average of $32.69 and a two-hundred day moving average of $33.54. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.53 and a beta of 1.02. Devon Energy has a 52-week low of $25.89 and a 52-week high of $49.35. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter last year, the company earned $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.89%. Devon Energy's dividend payout ratio is currently 21.87%.

Institutional Trading of Devon Energy

Several hedge funds have recently modified their holdings of DVN. Assetmark Inc. raised its holdings in Devon Energy by 7.6% during the fourth quarter. Assetmark Inc. now owns 8,983 shares of the energy company's stock worth $294,000 after purchasing an additional 635 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Devon Energy during the fourth quarter worth $4,411,000. PNC Financial Services Group Inc. raised its holdings in Devon Energy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 178,699 shares of the energy company's stock worth $5,849,000 after purchasing an additional 4,204 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Devon Energy by 12.4% during the fourth quarter. Citizens Financial Group Inc. RI now owns 12,116 shares of the energy company's stock worth $397,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Devon Energy by 19.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 42,698 shares of the energy company's stock worth $1,398,000 after purchasing an additional 6,987 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.