Zacks Research Cuts Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN - Free Report) - Zacks Research reduced their Q3 2026 earnings per share (EPS) estimates for shares of Devon Energy in a research note issued on Wednesday, July 9th. Zacks Research analyst J. Saha now anticipates that the energy company will post earnings of $0.93 per share for the quarter, down from their previous estimate 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 Q4 2026 earnings at $0.93 EPS, FY2026 earnings at $3.76 EPS, Q1 2027 earnings at $1.02 EPS, Q2 2027 earnings at $1.19 EPS and FY2027 earnings at $4.37 EPS.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada lowered their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Wolfe Research increased their target price on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Raymond James Financial set a $40.00 target price on Devon Energy in a research note on Monday, April 21st. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group increased their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.67.

Devon Energy Trading Up 3.2%

Shares of DVN stock traded up $1.02 on Monday, reaching $32.77. The company had a trading volume of 6,666,032 shares, compared to its average volume of 8,894,304. 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 has a market cap of $21.04 billion, a PE ratio of 7.46, a PEG ratio of 2.37 and a beta of 1.02. The company has a 50-day moving average of $32.82 and a 200-day moving average of $33.54. Devon Energy has a 12 month low of $25.89 and a 12 month high of $49.08.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business's revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Friday, June 13th. Devon Energy's payout ratio is presently 21.87%.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently made changes to their positions in DVN. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $25,000. Hurley Capital LLC acquired a new stake in shares of Devon Energy in the 4th quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Devon Energy in the 1st quarter valued at approximately $26,000. Banque Cantonale Vaudoise acquired a new stake in shares of Devon Energy in the 1st quarter valued at approximately $26,000. Finally, Accredited Wealth Management LLC acquired a new stake in Devon Energy during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Company Profile

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.