Zacks Research Increases Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Zacks Research lifted their Q2 2026 EPS estimates for Devon Energy in a research report issued on Thursday, May 28th. Zacks Research analyst Team now anticipates that the energy company will earn $1.25 per share for the quarter, up from their previous forecast of $1.04. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.24 per share. Zacks Research also issued estimates for Devon Energy’s Q3 2026 earnings at $1.06 EPS, Q4 2026 earnings at $1.04 EPS, FY2026 earnings at $4.39 EPS, Q1 2027 earnings at $1.18 EPS, Q3 2027 earnings at $1.08 EPS, Q4 2027 earnings at $1.13 EPS, FY2027 earnings at $4.43 EPS, Q1 2028 earnings at $1.15 EPS and FY2028 earnings at $4.82 EPS.

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

Several other equities analysts also recently issued reports on DVN. Scotiabank upped their price objective on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein upped their price objective on shares of Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Morgan Stanley upped their price objective on shares of Devon Energy from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Citigroup upped their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their price objective on shares of Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.85.

Devon Energy Stock Performance

DVN opened at $44.54 on Monday. Devon Energy has a 52-week low of $30.24 and a 52-week high of $52.71. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The company has a market cap of $27.68 billion, a P/E ratio of 12.41 and a beta of 0.38. The firm’s 50-day moving average price is $47.96 and its 200-day moving average price is $42.43.

Institutional Investors Weigh In On Devon Energy

Several hedge funds have recently bought and sold shares of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Devon Energy in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC boosted its position in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Ameriflex Group Inc. boosted its position in Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after purchasing an additional 702 shares in the last quarter. MV Capital Management Inc. purchased a new stake in Devon Energy in the 4th quarter worth approximately $29,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In related news, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is owned by corporate insiders.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.32 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, June 15th. Devon Energy’s payout ratio is currently 26.74%.

Key Devon Energy News

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

• Positive Sentiment: Reuters reported Devon Energy received an estimated $8 billion bid for its Marcellus shale gas assets, which investors see as evidence the assets may be worth more than previously thought and could support a portfolio simplification strategy. Devon Energy gets $8B offer for Marcellus shale assets – Reuters
• Positive Sentiment: Analyst commentary from Mizuho turned more constructive, with the firm raising its price target on Devon Energy to $68 from $62 and reiterating an Outperform rating, citing support from higher oil prices. Mizuho Raises Devon Energy (DVN) Price Target as Higher Oil Prices Support Outlook
• Positive Sentiment: Zacks Research raised multiple earnings estimates for Devon Energy, including FY2026, FY2027, and FY2028, signaling expectations for stronger future profitability even though the rating remains Hold.
• Positive Sentiment: Devon also completed a $2.6 billion Delaware Basin acquisition for 16,300 net undeveloped acres, which may strengthen its long-term oil and gas inventory and production optionality. Devon Energy Corporation (DVN) Boosts Delaware Basin Position with $2.6B Acquisition

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.