Devon Energy Q1 EPS Forecast Increased by Zacks Research

Key Points

• Zacks Research raised its Q1 2026 EPS estimate for Devon to $0.89 (from $0.73) while maintaining a "Hold" rating on the stock.
• Several brokers have lifted price targets and ratings, leaving a MarketBeat consensus of Moderate Buy with a $52.18 target; Devon trades with a market cap of about $29.74B, a P/E of 11.47 and a ~2.0% dividend yield (quarterly $0.24).
• Risks include a special shareholder vote to authorize doubling common shares—which raises dilution concerns—and rising bearish pressure after short interest jumped ~35.9% to ~33.16M shares (~5.4% of float).

Devon Energy Corporation (NYSE:DVN - Free Report) - Investment analysts at Zacks Research increased their Q1 2026 earnings per share (EPS) estimates for Devon Energy in a report issued on Thursday, April 9th. Zacks Research analyst Team now forecasts that the energy company will post earnings per share of $0.89 for the quarter, up from their prior forecast of $0.73. Zacks Research has a "Hold" rating on the stock. 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 $1.35 EPS, Q3 2026 earnings at $1.04 EPS, Q4 2026 earnings at $1.11 EPS, FY2026 earnings at $4.38 EPS, Q1 2027 earnings at $0.91 EPS, Q2 2027 earnings at $1.23 EPS, Q3 2027 earnings at $1.19 EPS, Q4 2027 earnings at $1.10 EPS, FY2027 earnings at $4.42 EPS and Q1 2028 earnings at $0.85 EPS.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the business earned $1.10 earnings per share. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the company. Roth Mkm reaffirmed a "buy" rating and set a $50.00 price objective on shares of Devon Energy in a report on Thursday, February 19th. Argus lifted their price objective on Devon Energy from $41.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Capital One Financial lifted their price objective on Devon Energy from $50.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, March 26th. Weiss Ratings raised Devon Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, January 28th. Finally, Wolfe Research lifted their price objective on Devon Energy from $64.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.18.

Devon Energy Stock Up 0.1%

DVN stock opened at $47.85 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $46.05 and its 200 day simple moving average is $39.25. The company has a market cap of $29.74 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.93 and a beta of 0.47. Devon Energy has a twelve month low of $26.76 and a twelve month high of $52.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DVN. Woodline Partners LP raised its position in Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock worth $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Devon Energy in the 2nd quarter worth approximately $403,000. Jump Financial LLC raised its position in Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock worth $899,000 after purchasing an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock worth $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock worth $4,586,000 after purchasing an additional 8,127 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, March 13th. Devon Energy's payout ratio is 23.02%.

Devon Energy News Roundup

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Truist reiterated its Buy rating on Devon, signaling continued institutional confidence in the company’s outlook and capital-return prospects. Truist Financial Sticks to Their Buy Rating for Devon Energy (DVN)
• Positive Sentiment: An analyst price target was raised to $60, which supports upside potential versus current levels and can attract value-oriented and momentum buyers. Devon Energy NYSE: DVN Price Target Raised to $60.00
• Positive Sentiment: Bank of America included Devon among dividend-paying energy names it still favors, reinforcing the stock’s appeal to income-oriented investors if cash returns remain stable. Bank of America Still Loves 4 Dividend Paying Energy Stocks Even After Oil Plunged
• Neutral Sentiment: RBC Capital maintained a Hold rating, a reminder that not all firms expect near-term upside; this can limit broad analyst-driven rallies. RBC Capital Keeps Their Hold Rating on Devon Energy (DVN)
• Negative Sentiment: Short interest jumped ~35.9% in March to ~33.16M shares (~5.4% of float), increasing bearish pressure and the risk of volatile moves if sentiment flips. (No link)
• Negative Sentiment: Zacks trimmed its FY2028 EPS forecast slightly (from $4.06 to $4.01) and carries a Hold stance, signaling modest downward risk to near-term earnings expectations. (Zacks coverage discussed in recent summaries)
• Negative Sentiment: Seeking Alpha published a bearish take titled “The Easy Money Has Been Made,” arguing limited upside from current levels — the piece can pressure momentum buyers. Devon Energy: The Easy Money Has Been Made
• Negative Sentiment: Devon called a special shareholder meeting for May 4 to vote on doubling authorized common shares — this increases flexibility for mergers/capital raises but raises dilution concerns that can weigh on the stock until outcomes are clearer. Devon Energy Share Authorization Vote May Reshape Merger And Capital Plans
• Negative Sentiment: Recent headlines noted the stock declined earlier this week amid a market uptick, reflecting sensitivity to sector moves and the items above. Devon Energy (DVN) Stock Falls Amid Market Uptick: What Investors Need to Know

Devon Energy Company Profile

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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