Zacks Research Raises Earnings Estimates for Devon Energy

Key Points

• Zacks Research has raised its Q1 2026 earnings per share estimate for Devon Energy to $0.98, increasing from a previous forecast of $0.95, while the full-year earnings estimate stands at $4.85 per share.
• Several analysts have adjusted their price targets for Devon Energy, with the consensus target price now at $43.85, amidst ratings ranging from "buy" to "hold."
• The company recently declared a quarterly dividend of $0.24 per share, equivalent to an annualized dividend yield of 3.0%.

Devon Energy Corporation (NYSE:DVN - Free Report) - Equities researchers at Zacks Research lifted their Q1 2026 earnings per share (EPS) estimates for shares of Devon Energy in a report released on Monday, August 4th. Zacks Research analyst J. Saha now anticipates that the energy company will post earnings per share of $0.98 for the quarter, up from their previous estimate of $0.95. 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 $1.01 EPS, FY2026 earnings at $3.97 EPS, Q1 2027 earnings at $1.12 EPS and FY2027 earnings at $4.80 EPS.

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

Other equities research analysts also recently issued research reports about the company. Tudor, Pickering, Holt & Co. increased their price objective on Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. The Goldman Sachs Group raised their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Mizuho cut their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Raymond James Financial reaffirmed an "outperform" rating and issued a $45.00 target price (up from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Finally, Siebert Williams Shank boosted their price target on shares of Devon Energy from $47.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $43.93.

Devon Energy Price Performance

Shares of Devon Energy stock traded down $0.12 on Tuesday, reaching $32.34. The stock had a trading volume of 10,931,145 shares, compared to its average volume of 7,670,810. The business's 50 day moving average is $33.01 and its two-hundred day moving average is $33.26. The company has a market cap of $20.76 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Devon Energy has a 1 year low of $25.89 and a 1 year high of $46.04. The company has a current ratio of 1.22, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. Devon Energy's dividend payout ratio is 21.52%.

Hedge Funds Weigh In On Devon Energy

A number of hedge funds and other institutional investors have recently modified their holdings of DVN. Alliancebernstein L.P. boosted its holdings in Devon Energy by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 929,222 shares of the energy company's stock valued at $30,413,000 after acquiring an additional 7,494 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of Devon Energy during the fourth quarter valued at $5,967,000. Aviva PLC increased its stake in Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock worth $12,339,000 after buying an additional 333,530 shares during the period. Russell Investments Group Ltd. lifted its holdings in Devon Energy by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 865,999 shares of the energy company's stock valued at $28,342,000 after buying an additional 173,580 shares in the last quarter. Finally, Titleist Asset Management LLC boosted its position in Devon Energy by 4.2% in the 4th quarter. Titleist Asset Management LLC now owns 15,911 shares of the energy company's stock valued at $521,000 after buying an additional 643 shares during the period. Institutional investors 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.