Zacks Research Increases Earnings Estimates for Devon Energy

Key Points

• Zacks Research raised its Q3 2026 EPS estimate for Devon Energy to $1.24 from $1.06, while keeping a Hold rating on the stock. The firm also updated several out-year earnings forecasts, including FY2027 EPS of $4.70.
• Analyst sentiment remains generally positive, with Devon Energy carrying an average Moderate Buy rating and a consensus price target of $58.85. Recent price-target hikes from firms like Piper Sandler, Sanford C. Bernstein, and Scotiabank reinforce that outlook.
• Devon Energy boosted its quarterly dividend to $0.32 per share from $0.24, lifting the annualized payout to $1.28 and the yield to about 3.0%. The company also reported its latest quarterly earnings below expectations, with EPS of $1.04 versus the $1.06 consensus.

Devon Energy Corporation (NYSE:DVN - Free Report) - Research analysts at Zacks Research increased their Q3 2026 EPS estimates for shares of Devon Energy in a research report issued to clients and investors on Monday, June 29th. Zacks Research analyst Team now forecasts that the energy company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.06. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Devon Energy's current full-year earnings is $4.97 per share. Zacks Research also issued estimates for Devon Energy's Q4 2026 earnings at $1.16 EPS, FY2026 earnings at $4.53 EPS, Q1 2027 earnings at $1.26 EPS, Q2 2027 earnings at $1.03 EPS, Q3 2027 earnings at $1.19 EPS, Q4 2027 earnings at $1.23 EPS and FY2027 earnings at $4.70 EPS.

Several other analysts also recently weighed in on DVN. Scotiabank boosted their price target on Devon Energy from $41.00 to $46.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Piper Sandler lifted their target price on Devon Energy from $59.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Sanford C. Bernstein upped their target price on Devon Energy from $42.00 to $59.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. TD Cowen raised their price target on shares of Devon Energy from $46.00 to $50.00 and gave the stock a "hold" rating in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group set a $54.00 price objective on shares of Devon Energy in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $58.85.

Devon Energy Stock Performance

Shares of DVN stock opened at $42.05 on Tuesday. The business has a fifty day moving average of $45.92 and a 200 day moving average of $43.57. Devon Energy has a 1 year low of $31.45 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The firm has a market capitalization of $26.13 billion, a price-to-earnings ratio of 11.71 and a beta of 0.38.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's quarterly revenue was down 14.5% on a year-over-year basis.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Devon Energy's previous quarterly dividend of $0.24. Devon Energy's dividend payout ratio is 35.65%.

Insider Activity

In related news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares of the company's stock, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,371 shares of company stock valued at $5,258,059 in the last three months. 4.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Devon Energy

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.