Devon Energy FY2026 EPS Estimate Lifted by Zacks Research

Key Points

• Zacks Research raised Devon Energy’s FY2026 EPS estimate to $4.96 from $4.53, close to the $4.99 consensus forecast, while maintaining a “Hold” rating.
• Devon Energy reported strong quarterly results, with EPS of $1.57 beating estimates by $0.17 and revenue of $7.42 billion rising 73.1% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $59.15; Devon also declared a quarterly dividend of $0.32 per share.

Devon Energy Corporation (NYSE:DVN - Free Report) - Research analysts at Zacks Research raised their FY2026 earnings estimates for shares of Devon Energy in a note issued to investors on Tuesday, August 18th. Zacks Research analyst Team now anticipates that the energy company will earn $4.96 per share for the year, up from their prior estimate of $4.53. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Devon Energy's current full-year earnings is $4.99 per share. Zacks Research also issued estimates for Devon Energy's Q4 2026 earnings at $1.22 EPS, Q1 2027 earnings at $1.31 EPS and Q1 2028 earnings at $1.20 EPS.

Several other equities analysts have also recently issued reports on the company. Wolfe Research set a $67.00 price target on Devon Energy and gave the company an "outperform" rating in a research report on Monday, June 22nd. Citigroup upped their price objective on Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Barclays lowered their target price on Devon Energy from $62.00 to $58.00 and set an "overweight" rating on the stock in a report on Monday. Morgan Stanley cut their price target on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Finally, Mizuho lifted their price objective on shares of Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.15.

Devon Energy Stock Performance

DVN opened at $47.84 on Wednesday. The company has a market capitalization of $52.63 billion, a price-to-earnings ratio of 11.36 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy has a 1-year low of $31.47 and a 1-year high of $52.71. The business has a 50 day moving average price of $43.52 and a two-hundred day moving average price of $45.30.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion during the quarter, compared to analysts' expectations of $6.01 billion. During the same period last year, the firm posted $0.84 earnings per share. The business's revenue was up 73.1% on a year-over-year basis.

Institutional Trading of Devon Energy

Several large investors have recently modified their holdings of the company. LSV Asset Management lifted its position in shares of Devon Energy by 79.6% during the fourth quarter. LSV Asset Management now owns 799,587 shares of the energy company's stock worth $29,289,000 after purchasing an additional 354,500 shares in the last quarter. Morningstar Investment Management LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $2,089,000. Kimmeridge Energy Management Company LLC lifted its stake in 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 buying an additional 3,195,862 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Devon Energy by 15.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company's stock worth $9,801,000 after acquiring an additional 26,209 shares during the last quarter. Finally, NewEdge Wealth LLC increased its stake in Devon Energy by 20.0% in the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company's stock valued at $24,138,000 after purchasing an additional 80,000 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.58% of the company's stock.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy's dividend payout ratio (DPR) is 30.40%.

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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