Q2 EPS Estimates for Devon Energy Reduced by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Research analysts at Zacks Research lowered their Q2 2026 earnings estimates for shares of Devon Energy in a report released on Monday, March 2nd. Zacks Research analyst Team now anticipates that the energy company will post earnings of $0.79 per share for the quarter, down from their prior estimate of $0.89. Zacks Research 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 Q4 2026 earnings at $0.72 EPS, Q4 2027 earnings at $0.91 EPS and FY2028 earnings at $4.06 EPS.

A number of other research analysts also recently weighed in on DVN. Johnson Rice reduced their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 5th. Susquehanna lifted their price target on Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. Mizuho set a $51.00 price objective on shares of Devon Energy in a report on Tuesday, February 3rd. BMO Capital Markets lifted their target price on Devon Energy from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $50.00 price target on shares of Devon Energy in a report on Thursday, February 19th. Twenty-three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.65.

Devon Energy Price Performance

DVN stock opened at $43.51 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy has a 1 year low of $25.89 and a 1 year high of $46.15. The firm has a 50-day moving average of $40.10 and a 200 day moving average of $36.72. The company has a market cap of $26.98 billion, a P/E ratio of 10.43, a PEG ratio of 4.38 and a beta of 0.56.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DVN. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 2,108.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after purchasing an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Devon Energy by 42,376.5% during the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares in the last quarter. Kimmeridge Energy Management Company LLC grew its holdings in Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares during the period. AQR Capital Management LLC increased its position in Devon Energy by 78.7% in the second 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Devon Energy by 608.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock worth $98,721,000 after buying an additional 2,314,843 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Devon Energy’s payout ratio is presently 23.02%.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: BMO Capital Markets raised its price target to $55 and maintained an “Outperform” rating, implying roughly 25% upside from the recent price. That call can attract momentum buying and provides a counterweight to recent downgrades. MarketScreener
• Positive Sentiment: Mizuho reaffirmed an Outperform rating and a $51 price target after Devon’s Q4 results (revenue beat at ~$4.12B, EPS roughly in line). That reinforces a view that Devon can deliver near-term operating resilience even as some models get trimmed. Mizuho Reaffirms Outperform
• Positive Sentiment: Heightened Middle East tensions and headlines suggesting strikes involving Iran have prompted analysts and outlets to expect oil-price spikes—an external catalyst that would likely boost cash flow and margins for large U.S. producers like Devon. This macro/geopolitical risk is a potential upside trigger for the stock. Oil price article
• Negative Sentiment: Zacks Research issued a sweeping set of earnings cuts across 2026–2028 (multiple quarterly and full‑year downgrades) and carries a “Strong Sell” rating. Notable revisions include FY2026 EPS trimmed to ~$2.86 (from ~$3.68 prior) and FY2027 to ~$3.30 (from ~$4.45), plus sharp cuts to several quarterly estimates (many quarters cut by large percentages). Those revisions increase near‑term downside risk as models are repriced and investor sentiment weakens. See the Devon profile for the Zacks coverage reference. Devon profile

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.