Devon Energy (NYSE:DVN) Upgraded at Zacks Research

Zacks Research upgraded shares of Devon Energy (NYSE:DVN) from a strong sell rating to a hold rating in a research note published on Wednesday,Zacks.com reports. Zacks Research also issued estimates for Devon Energy’s Q1 2026 earnings at $0.73 EPS, Q2 2026 earnings at $0.79 EPS, Q3 2026 earnings at $0.63 EPS, Q4 2026 earnings at $0.72 EPS, FY2026 earnings at $2.86 EPS, Q1 2027 earnings at $0.58 EPS, Q2 2027 earnings at $0.93 EPS, Q3 2027 earnings at $0.88 EPS, Q4 2027 earnings at $0.91 EPS, FY2027 earnings at $3.30 EPS and FY2028 earnings at $4.06 EPS.

A number of other equities analysts have also recently issued reports on the company. Johnson Rice lowered their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 5th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Wells Fargo & Company increased their price objective on Devon Energy from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Scotiabank dropped their target price on Devon Energy from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. Finally, Raymond James Financial boosted their target price on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Devon Energy Stock Performance

Shares of DVN opened at $44.51 on Wednesday. The firm has a market cap of $27.60 billion, a P/E ratio of 10.67, a PEG ratio of 4.43 and a beta of 0.56. Devon Energy has a twelve month low of $25.89 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The firm’s 50 day moving average price is $40.44 and its two-hundred day moving average price is $36.85.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, analysts forecast that Devon Energy will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Caldwell Trust Co bought a new position in Devon Energy in the second quarter valued at approximately $25,000. PFS Partners LLC bought a new stake in shares of Devon Energy during the 3rd quarter worth approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Devon Energy in the 4th quarter valued at approximately $25,000. First Horizon Corp acquired a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $26,000. Finally, Accredited Wealth Management LLC grew its stake in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

More Devon Energy News

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

• Positive Sentiment: Planned all‑stock merger with Coterra would create one of the largest U.S. shale producers, promising multi‑basin scale and meaningful operating/cost synergies that support long‑term revenue and cash‑flow upside. Devon And Coterra Merger Reshapes Shale Outlook As Oil Prices Shift
• Positive Sentiment: Several brokers raised ratings/targets (UBS to $55 buy; Piper Sandler to $59 overweight), signaling analyst confidence in upside from cost cuts, multi‑basin assets and the merger. These upgrades tend to support higher share valuations. Benzinga Coverage
• Positive Sentiment: Devon has outperformed peers and the S&P over the past six months (roughly +29%), driven by operational improvements and merger expectations — momentum that attracts both value and momentum investors. DVN Outperforms Industry in the Past 6 Months: How to Play the Stock?
• Positive Sentiment: Recent bullish research pieces highlight near‑term tailwinds and argue the combined Devon/Coterra entity is undervalued vs. peers, reinforcing buy-side interest ahead of merger execution. Devon Energy: Q1 2026 Tailwinds And Merger Synergy Discussed – Reiterate Buy
• Neutral Sentiment: Coverage notes Devon’s stronger position in the NYSE Composite energy sector — a descriptive market‑weight update that underlines visibility but is not an immediate catalyst. Devon Energy (NYSE:DVN) Strengthens Position In NYSE Composite Energy Sector
• Neutral Sentiment: Sector commentary (If oil rises sharply) points to outsized upside for large E&P names like Devon, a macro tailwind that supports longer‑dated bullish cases but depends on oil price trajectory. Forget Tech Stocks. If Oil Goes to $100 These Energy Plays Are Unstoppable
• Negative Sentiment: Zacks reduced near‑term EPS forecasts (Q1/Q2) for Devon, introducing downside risk to short‑term expectations; earnings revisions like this can cap multiple expansion even as strategic positives remain. Devon Energy Q1 EPS Forecast Decreased by Zacks Research

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.