Zacks Research Lifts Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Equities researchers at Zacks Research boosted their Q1 2027 earnings per share estimates for Devon Energy in a research report issued to clients and investors on Tuesday, May 19th. Zacks Research analyst Team now forecasts that the energy company will earn $0.99 per share for the quarter, up from their prior estimate of $0.91. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $5.25 per share. Zacks Research also issued estimates for Devon Energy’s Q1 2028 earnings at $0.97 EPS.

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

Other equities analysts have also issued reports about the company. Barclays increased their price target on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Wall Street Zen lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Sunday. TD Cowen increased their price target on Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Finally, Wolfe Research increased their price target on Devon Energy from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $57.04.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $48.46 on Thursday. The stock has a 50 day moving average of $48.03 and a 200 day moving average of $41.80. Devon Energy has a 12 month low of $30.24 and a 12 month high of $52.71. The firm has a market cap of $30.12 billion, a PE ratio of 13.50 and a beta of 0.43. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Devon Energy by 0.6% in the fourth quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock worth $1,301,914,000 after buying an additional 212,074 shares during the period. Geode Capital Management LLC raised its holdings in shares of Devon Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after buying an additional 186,743 shares during the period. Victory Capital Management Inc. raised its holdings in shares of 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 worth $509,779,000 after buying an additional 2,071,021 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company’s stock worth $483,475,000 after buying an additional 235,561 shares during the period. Finally, Kimmeridge Energy Management Company LLC raised its holdings in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after buying an additional 3,195,862 shares during the period. 69.72% of the stock is owned by institutional investors.

Insider Activity at Devon Energy

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was 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 directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is owned by company insiders.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is 26.74%.

Trending Headlines about Devon Energy

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

• Positive Sentiment: Jefferies raised its view on Devon Energy, lifting its price target and saying the company has multiple catalysts that could drive shares higher, including benefits tied to recent deal activity and other operational tailwinds. Jefferies Sees Multiple Catalysts Driving Devon Energy (DVN) Higher after Coterra Deal
• Positive Sentiment: Wells Fargo maintained a favorable outlook on Devon Energy, and Jim Cramer also highlighted DVN on CNBC, saying the company has “tremendous natural gas,” which adds to the bullish sentiment around the stock. Cramer Flags AI Winners, Warns STMicro Is ‘Late Late Late’ At 51x Earnings
• Positive Sentiment: Devon’s recent earnings-call highlights emphasized cash generation and synergy opportunities, reinforcing the idea that management sees room to improve profitability and shareholder returns. Devon Energy Earnings Call Highlights Cash, Synergies
• Neutral Sentiment: Broader energy-sector strength has helped support DVN, with energy stocks outperforming this year and analysts still seeing upside in select names. Energy Stocks Are Up 33% This Year — Analysts Think 5 Will Jump
• Negative Sentiment: Oil-price volatility remains a risk: if Iran-U.S. talks progress, crude prices could fall quickly, which would pressure sentiment for energy producers like Devon Energy. Oil Could Drop Fast If the Iran Talks Succeed. Here’s How to Hedge Your Energy Portfolio.

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.