Q3 EPS Estimates for Devon Energy Lowered by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Equities researchers at Zacks Research cut their Q3 2026 earnings estimates for shares of Devon Energy in a research note issued to investors on Tuesday, August 18th. Zacks Research analyst Team now anticipates that the energy company will post earnings per share of $1.13 for the quarter, down from their prior estimate of $1.24. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $5.04 per share. Zacks Research also issued estimates for Devon Energy’s Q2 2027 earnings at $1.05 EPS, Q3 2027 earnings at $0.89 EPS, Q4 2027 earnings at $1.04 EPS, FY2027 earnings at $4.29 EPS, Q2 2028 earnings at $1.08 EPS and FY2028 earnings at $4.76 EPS.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. During the same quarter in the previous year, the business posted $0.84 EPS. Devon Energy’s revenue was up 73.1% on a year-over-year basis.

A number of other analysts have also recently weighed in on DVN. Scotiabank raised their price objective on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citigroup increased their price target on Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Evercore raised Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target for the company in a report on Wednesday, June 10th. Finally, Morgan Stanley dropped their price target on Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.15.

Devon Energy Price Performance

NYSE DVN opened at $48.16 on Thursday. The firm’s fifty day simple moving average is $43.56 and its two-hundred day simple moving average is $45.36. The firm has a market capitalization of $52.98 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.36 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy has a 12-month low of $31.47 and a 12-month high of $52.71.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio is presently 30.40%.

Insider Activity

In related news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.58% of the stock is currently owned by insiders.

Institutional Trading of Devon Energy

Several large investors have recently added to or reduced their stakes in DVN. BlackRock Inc. increased its holdings in shares of Devon Energy by 57.6% in the second quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock valued at $3,941,054,000 after purchasing an additional 34,871,366 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Devon Energy by 418.3% during the second quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock worth $2,128,905,000 after purchasing an additional 41,581,435 shares during the period. State Street Corp lifted its holdings in shares of Devon Energy by 0.6% during the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock worth $1,301,914,000 after purchasing an additional 212,074 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Devon Energy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after purchasing an additional 186,743 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Devon Energy by 17.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock valued at $509,779,000 after buying an additional 2,071,021 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: Devon’s post-merger output reportedly exceeded guidance, suggesting the combined operations may be delivering stronger-than-expected production and improving confidence in near-term results. Devon Energy stock in focus as output tops guidance post-merger
• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $4.96 from $4.53 and increased estimates for Q4 2026 to $1.22 from $1.16 and Q1 2027 to $1.31 from $1.26. The upgrades indicate improved expectations for Devon’s earnings trajectory. Devon Energy analyst estimates
• Positive Sentiment: Argus initiated or reaffirmed a “Buy” rating on Devon Energy, adding a favorable Wall Street view as the company benefits from its multi-basin portfolio, low-cost operations and relatively modest leverage. Devon Energy earns Buy rating from Argus
• Neutral Sentiment: Devon’s shares have outperformed the industry over the past month. The company’s diversified production base and cost structure offer support, but earnings remain exposed to oil and natural-gas price swings. DVN stock outperforms industry in a month
• Neutral Sentiment: Despite the higher earnings forecasts, Zacks Research maintains a “Hold” rating, suggesting analysts see balanced upside and risk at current valuation levels.

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.