Q1 EPS Estimates for Devon Energy Boosted by Zacks Research

Key Points

• Zacks Research raised its Q1 2027 EPS estimate for Devon Energy to $0.99 from $0.91 and kept a Strong-Buy rating on the stock.
• Devon Energy’s 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.
• The company also increased its quarterly dividend to $0.32 from $0.24, which implies a 2.6% annualized yield and signals stronger shareholder returns.

Devon Energy Corporation (NYSE:DVN - Free Report) - Equities researchers at Zacks Research boosted their Q1 2027 earnings per share estimates for Devon Energy in a research report issued on Tuesday, May 19th. Zacks Research analyst Team now forecasts that the energy company will earn $0.99 per share for the quarter, up from their prior estimate of $0.91. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Devon Energy's current full-year earnings is $5.25 per share. Zacks Research also issued estimates for Devon Energy's Q1 2028 earnings at $0.97 EPS.

A number of other research firms have also recently commented on DVN. Mizuho upped their price objective on Devon Energy from $51.00 to $62.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Capital One Financial reduced their price objective on Devon Energy from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. Raymond James Financial upgraded Devon Energy from an "outperform" rating to a "strong-buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, May 5th. Siebert Williams Shank upped their price target on Devon Energy from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Finally, Barclays upped their price target on Devon Energy from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, March 16th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average price target of $57.04.

Devon Energy Stock Down 2.5%

Devon Energy stock opened at $48.46 on Thursday. The stock has a market cap of $30.12 billion, a PE ratio of 13.50 and a beta of 0.43. 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 one year low of $30.24 and a one year high of $52.71. The stock has a fifty day moving average of $48.03 and a 200 day moving average of $41.80.

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

Hedge Funds Weigh In On Devon Energy

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of Devon Energy by 3.7% in the first quarter. Bank of America Corp DE now owns 6,214,358 shares of the energy company's stock worth $312,706,000 after acquiring an additional 223,665 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Devon Energy by 849.7% in the first quarter. Janus Henderson Group PLC now owns 262,096 shares of the energy company's stock worth $13,183,000 after acquiring an additional 234,498 shares during the period. Bull Harbor Capital LLC bought a new position in shares of Devon Energy in the first quarter worth about $563,000. Ashton Thomas Securities LLC bought a new position in shares of Devon Energy in the first quarter worth about $835,000. Finally, Arkadios Wealth Advisors boosted its stake in shares of Devon Energy by 21.9% in the first quarter. Arkadios Wealth Advisors now owns 144,030 shares of the energy company's stock worth $7,248,000 after acquiring an additional 25,915 shares during the period. Institutional investors own 69.72% of the company's stock.

Insider Transactions at Devon Energy

In other Devon Energy news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president 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 filing with the SEC, which is available through this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares of the company's stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.71% 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 given a $0.32 dividend. The ex-dividend date is Monday, June 15th. This is a positive change from Devon Energy's previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. Devon Energy's dividend payout ratio (DPR) is currently 26.74%.

Devon Energy News Roundup

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

• Positive Sentiment: Jefferies raised its view on Devon Energy, lifting its price target and saying the company has multiple catalysts that could drive shares higher, including benefits tied to recent deal activity and other operational tailwinds. Jefferies Sees Multiple Catalysts Driving Devon Energy (DVN) Higher after Coterra Deal
• Positive Sentiment: Wells Fargo maintained a favorable outlook on Devon Energy, and Jim Cramer also highlighted DVN on CNBC, saying the company has “tremendous natural gas,” which adds to the bullish sentiment around the stock. Cramer Flags AI Winners, Warns STMicro Is 'Late Late Late' At 51x Earnings
• Positive Sentiment: Devon’s recent earnings-call highlights emphasized cash generation and synergy opportunities, reinforcing the idea that management sees room to improve profitability and shareholder returns. Devon Energy Earnings Call Highlights Cash, Synergies
• Neutral Sentiment: Broader energy-sector strength has helped support DVN, with energy stocks outperforming this year and analysts still seeing upside in select names. Energy Stocks Are Up 33% This Year — Analysts Think 5 Will Jump
• Negative Sentiment: Oil-price volatility remains a risk: if Iran-U.S. talks progress, crude prices could fall quickly, which would pressure sentiment for energy producers like Devon Energy. Oil Could Drop Fast If the Iran Talks Succeed. Here's How to Hedge Your Energy Portfolio.

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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