Zacks Research Expects Reduced Earnings for Devon Energy

Key Points

• Zacks Research has revised its Q2 2026 earnings per share estimate for Devon Energy down from $1.00 to $0.94, while the current full-year earnings consensus estimate remains at $4.85 per share.
• Despite the earnings downgrade, several research firms have adjusted their price targets for Devon Energy, with Morgan Stanley raising it to $49.00, and Mizuho lowering it to $43.00.
• Devon Energy's recent dividend announcement includes a quarterly distribution of $0.24 per share, with an annualized yield of 2.8%, reflecting a payout ratio of 21.52%.

Devon Energy Corporation (NYSE:DVN - Free Report) - Zacks Research dropped their Q2 2026 earnings per share (EPS) estimates for Devon Energy in a research report issued to clients and investors on Tuesday, August 19th. Zacks Research analyst Team now expects that the energy company will post earnings per share of $0.94 for the quarter, down from their previous estimate of $1.00. 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 Q1 2027 earnings at $1.06 EPS and Q2 2027 earnings at $1.10 EPS.

DVN has been the subject of a number of other research reports. Morgan Stanley upped their price objective on shares of Devon Energy from $46.00 to $49.00 and gave the company an "overweight" rating in a research report on Monday. Mizuho cut their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Bank of America cut their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group upped their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.15.

Devon Energy Stock Up 0.2%

DVN stock opened at $33.8360 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. Devon Energy has a 52-week low of $25.89 and a 52-week high of $46.04. The company has a 50-day moving average of $33.25 and a two-hundred day moving average of $33.13. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.8%. Devon Energy's payout ratio is 21.52%.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Devon Energy

A number of institutional investors have recently modified their holdings of DVN. Vanguard Group Inc. grew its position in shares of Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company's stock worth $3,096,000,000 after buying an additional 2,098,568 shares during the period. Geode Capital Management LLC grew its position in shares of Devon Energy by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company's stock worth $589,399,000 after buying an additional 218,034 shares during the period. Victory Capital Management Inc. grew its position in shares of Devon Energy by 12.9% during the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock worth $430,805,000 after buying an additional 1,315,050 shares during the period. Northern Trust Corp grew its position in shares of Devon Energy by 5.1% during the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company's stock worth $245,987,000 after buying an additional 316,460 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company's stock worth $202,327,000 after buying an additional 2,802,137 shares during the period. 69.72% of the stock is owned by institutional investors.

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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