Analysts Set Expectations for Devon Energy FY2026 Earnings

Key Points

• Scotiabank cut its FY2026 EPS estimate for Devon Energy to $5.05 from $6.25, while keeping a Sector Perform rating and a $46 price target. The new estimate is slightly below the broader consensus of $5.25 per share.
• Devon’s most recent quarterly results missed analyst expectations, with EPS of $1.04 versus $1.06 expected and revenue of $3.81 billion versus $4.34 billion expected. Revenue also declined 14.5% year over year.
• The company raised its quarterly dividend to $0.32 from $0.24, implying a 2.6% yield and an annualized payout of $1.28. Meanwhile, insider selling and mixed analyst sentiment suggest investors are watching the stock closely.

Devon Energy Corporation (NYSE:DVN - Free Report) - Investment analysts at Scotiabank decreased their FY2026 earnings estimates for Devon Energy in a report issued on Thursday, May 14th. Scotiabank analyst B. Zhang now expects that the energy company will earn $5.05 per share for the year, down from their prior estimate of $6.25. Scotiabank currently has a "Sector Perform" rating and a $46.00 price target on the stock. The consensus estimate for Devon Energy's current full-year earnings is $5.25 per share. Scotiabank also issued estimates for Devon Energy's FY2027 earnings at $3.60 EPS.

DVN has been the topic of a number of other reports. Argus upped their target price on shares of Devon Energy from $41.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Zacks Research upgraded shares of Devon Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Siebert Williams Shank upped their target price on shares of Devon Energy from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Sanford C. Bernstein increased their price target on shares of Devon Energy from $42.00 to $59.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $66.00 price target on shares of Devon Energy in a research note on Monday, April 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Devon Energy currently has an average rating of "Moderate Buy" and a consensus price target of $56.41.

Devon Energy Stock Up 0.1%

DVN stock opened at $49.55 on Monday. The company's 50 day moving average price is $47.75 and its 200 day moving average price is $41.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. Devon Energy has a fifty-two week low of $30.24 and a fifty-two week high of $52.71. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 13.80 and a beta of 0.43.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm's quarterly revenue was down 14.5% on a year-over-year basis.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently modified their holdings of DVN. Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company's stock valued at $233,953,000 after acquiring an additional 6,097,658 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company's stock valued at $132,206,000 after acquiring an additional 3,600,731 shares during the period. Kimmeridge Energy Management Company LLC boosted its holdings in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company's stock valued at $324,204,000 after acquiring an additional 3,195,862 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Devon Energy by 78.7% in the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company's stock valued at $202,327,000 after acquiring an additional 2,802,137 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Devon Energy by 92.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company's stock valued at $260,692,000 after acquiring an additional 2,485,603 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the transaction, the executive vice president directly owned 428,452 shares in the company, valued at $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.73% of the company's stock.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, June 15th. Devon Energy's payout ratio is currently 26.74%.

About Devon Energy

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

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