Q2 EPS Estimates for Devon Energy Raised by Zacks Research

Key Points

• Research firm Zacks Research has raised its Q2 2026 earnings per share estimate for Devon Energy to $1.00, up from $0.96.
• Devon Energy reported Q2 earnings of $0.84 per share, beating analyst expectations of $0.83 and achieving a 9.4% increase in revenue year-over-year.
• Analysts have varied price targets for Devon Energy, with a consensus target price of $43.85 and a majority rating the stock as a "Moderate Buy."

Devon Energy Corporation (NYSE:DVN - Free Report) - Research analysts at Zacks Research lifted their Q2 2026 earnings per share (EPS) estimates for Devon Energy in a research note issued on Monday, August 4th. Zacks Research analyst J. Saha now expects that the energy company will post earnings of $1.00 per share for the quarter, up from their previous forecast of $0.96. 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 Q3 2026 earnings at $0.98 EPS and Q2 2027 earnings at $1.23 EPS.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share.

DVN has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price target on Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Susquehanna decreased their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research boosted their target price on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. The Goldman Sachs Group boosted their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada decreased their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.85.

Devon Energy Trading Up 1.2%

NYSE:DVN opened at $32.33 on Wednesday. The firm has a market cap of $20.76 billion, a P/E ratio of 7.36, a PEG ratio of 1.81 and a beta of 1.07. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock's 50 day simple moving average is $32.96 and its 200-day simple moving average is $33.31. Devon Energy has a 12-month low of $25.89 and a 12-month high of $46.04.

Institutional Investors Weigh In On Devon Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Resona Asset Management Co. Ltd. purchased a new position in Devon Energy in the fourth quarter valued at about $5,967,000. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in Devon Energy by 10.8% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock valued at $10,210,000 after purchasing an additional 26,519 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Devon Energy by 209.5% in the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock valued at $848,000 after purchasing an additional 15,351 shares during the last quarter. Aviva PLC boosted its holdings in Devon Energy by 767.3% in the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after purchasing an additional 333,530 shares during the last quarter. Finally, Autumn Glory Partners LLC boosted its holdings in Devon Energy by 93.6% in the first quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company's stock valued at $1,547,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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