Q1 EPS Estimates for Devon Energy Raised by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Analysts at Zacks Research increased their Q1 2026 earnings per share (EPS) estimates for shares of Devon Energy in a research report issued on Tuesday, January 27th. Zacks Research analyst Team now anticipates that the energy company will post earnings per share of $0.96 for the quarter, up from their prior estimate of $0.95. Zacks Research currently has a “Strong Sell” rating on the stock. 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 $0.96 EPS, Q4 2026 earnings at $0.87 EPS, FY2026 earnings at $3.68 EPS, Q1 2027 earnings at $1.09 EPS, Q2 2027 earnings at $1.06 EPS, Q3 2027 earnings at $1.18 EPS, Q4 2027 earnings at $1.12 EPS and FY2027 earnings at $4.45 EPS.

A number of other equities analysts also recently issued reports on DVN. Jefferies Financial Group increased their price target on shares of Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Susquehanna increased their target price on Devon Energy from $42.00 to $45.00 and gave the stock a “positive” rating in a research report on Monday. Mizuho raised their target price on Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, BMO Capital Markets dropped their price target on Devon Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $44.76.

Devon Energy Trading Up 0.2%

NYSE:DVN opened at $39.93 on Wednesday. The company has a 50-day moving average price of $36.90 and a 200-day moving average price of $34.95. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 3.64 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Devon Energy has a 12 month low of $25.89 and a 12 month high of $41.31.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its holdings in shares of Devon Energy by 14.3% during the fourth quarter. Comerica Bank now owns 183,676 shares of the energy company’s stock valued at $6,728,000 after acquiring an additional 22,972 shares in the last quarter. Horizon Advisory Services Inc. boosted its stake in Devon Energy by 34.9% in the 4th quarter. Horizon Advisory Services Inc. now owns 10,663 shares of the energy company’s stock worth $391,000 after purchasing an additional 2,756 shares in the last quarter. Argyle Capital Management LLC grew its position in Devon Energy by 22.0% during the 4th quarter. Argyle Capital Management LLC now owns 8,333 shares of the energy company’s stock valued at $305,000 after purchasing an additional 1,500 shares during the last quarter. Sava Infond d.o.o. increased its stake in Devon Energy by 25.0% during the 4th quarter. Sava Infond d.o.o. now owns 4,000 shares of the energy company’s stock valued at $147,000 after purchasing an additional 800 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in Devon Energy by 61.1% in the fourth quarter. Concurrent Investment Advisors LLC now owns 130,591 shares of the energy company’s stock worth $4,784,000 after buying an additional 49,535 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $0.24 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Devon Energy’s dividend payout ratio is presently 22.59%.

Key Headlines Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Merger talks with Coterra — Multiple outlets report Coterra and Devon are in advanced talks to merge; Reuters says a deal could be announced as soon as next week, which would be the largest U.S. shale deal in nearly two years. The potential combination implies scale, cost synergies and portfolio rationalization that investors typically view as value-accretive. Coterra Energy and Devon Energy in advanced talks to merge, source says
• Positive Sentiment: Press confirmation/coverage — The Financial Times and Seeking Alpha also reported the same merger discussions, reinforcing deal credibility and broadening market attention. Increased media confirmation helps drive the share-price reaction and trading volume. Coterra-Devon merger said to be in advanced talks – FT
• Positive Sentiment: Higher price target — Siebert Williams Shank raised its price target on DVN to $50, signaling some analyst upside expectations that may support further buying if merger terms look favorable or if fundamentals improve. Siebert Williams Shank Boosts Devon Energy Price Target to $50.00
• Neutral Sentiment: Analyst tone mixed/cautious — Market commentary (e.g., Barchart) notes that while Devon has lagged the S&P 500 over the past year, analysts remain cautiously optimistic about long-term prospects; this frames the merger as a catalyst but not a guaranteed re-rating. Devon Energy Stock: Analyst Estimates & Ratings
• Neutral Sentiment: Trading and fundamentals context — Shares are trading above recent moving averages with elevated volume vs. average, and valuation metrics (market cap ≈ $25B, PE ≈ 9.4) make the company an attractive consolidation target for peers. (Background trading data.)
• Negative Sentiment: Zacks downgrades and cuts to estimates — Zacks Research moved DVN to a “Strong Sell” and trimmed multiple quarterly and FY EPS forecasts (FY2026/FY2027 cuts and several quarter adjustments). These lower near-term earnings expectations and the negative rating could limit upside if merger terms are seen as weak or if integration risk is perceived as high. Zacks Research

About Devon Energy

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.