Q2 EPS Estimates for Devon Energy Cut by Zacks Research

Key Points

• Zacks Research cut its Q2 2026 EPS estimate for Devon Energy to $1.09 from $1.25, while keeping a Hold rating on the stock.
• Despite the lowered near-term forecast, other analysts remain constructive: several recently reiterated or raised Buy/Outperform ratings, and Devon’s consensus rating is still Moderate Buy with an average price target of $58.81.
• Devon Energy also recently raised its quarterly dividend to $0.32 per share, equal to a 3.1% annualized yield, even though its latest earnings report slightly missed expectations on both EPS and revenue.

Devon Energy Corporation (NYSE:DVN - Free Report) - Stock analysts at Zacks Research cut their Q2 2026 earnings per share (EPS) estimates for shares of Devon Energy in a report released on Monday, June 29th. Zacks Research analyst Team now expects that the energy company will post earnings per share of $1.09 for the quarter, down from their prior forecast of $1.25. Zacks Research currently 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 FY2028 earnings at $4.73 EPS.

A number of other analysts have also recently commented on DVN. Truist Financial lifted their target price on shares of Devon Energy from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the company an "outperform" rating in a research note on Monday, June 22nd. Raymond James Financial decreased their price target on shares of Devon Energy from $72.00 to $66.00 and set a "strong-buy" rating for the company in a report on Monday, June 15th. Argus lifted their price objective on shares of Devon Energy from $51.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Devon Energy in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average target price of $58.81.

Devon Energy Price Performance

Shares of DVN stock opened at $41.32 on Wednesday. Devon Energy has a fifty-two week low of $31.45 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 11.51 and a beta of 0.37. The stock's 50-day simple moving average is $45.86 and its 200-day simple moving average is $43.59.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $3.81 billion during 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 company's quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, June 15th. This is a positive change from Devon Energy's previous quarterly dividend of $0.24. Devon Energy's dividend payout ratio (DPR) is presently 35.65%.

Insider Buying and Selling at Devon Energy

In other news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company's stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 112,371 shares of company stock worth $5,258,059. Company insiders own 4.58% of the company's stock.

Institutional Trading of Devon Energy

Hedge funds have recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. boosted its position in Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock worth $28,000 after purchasing an additional 702 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $29,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Devon Energy during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy News Summary

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

• Positive Sentiment: Zacks Research raised several near- and longer-term earnings estimates for Devon Energy, including Q3 2026, Q4 2026, Q1 2027, FY2026, and FY2027, which suggests improving profit expectations. Article Title
• Positive Sentiment: Goldman Sachs kept a Buy rating on DVN despite trimming its price target slightly to $53 from $54, implying continued upside from current levels. Article Title
• Neutral Sentiment: Devon Energy shareholders reinforced board and governance stability at the company’s 2026 annual meeting, a development that is supportive of continuity but not a major operating catalyst. Article Title
• Neutral Sentiment: Zacks noted that Devon Energy’s stock was moving lower even as the broader market rose, but the report did not identify a company-specific operational setback beyond the recent trading weakness. Article Title
• Negative Sentiment: Goldman Sachs did cut its price target, which may have added some mild downside pressure even though the firm stayed constructive on the stock. Article Title

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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