Q3 EPS Estimates for Devon Energy Cut by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Zacks Research cut their Q3 2026 EPS estimates for shares of Devon Energy in a research report issued on Tuesday, August 18th. Zacks Research analyst Team now forecasts that the energy company will post earnings per share of $1.13 for the quarter, down from their previous 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.

A number of other equities research analysts have also issued reports on DVN. Roth Capital reissued a “buy” rating and set a $57.00 price target on shares of Devon Energy in a research note on Tuesday, April 28th. Wall Street Zen raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. UBS Group reduced their target price on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Morgan Stanley decreased their target price on Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Finally, Raymond James Financial lowered their target price on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.15.

Devon Energy Stock Up 0.7%

Shares of NYSE:DVN opened at $48.16 on Thursday. The firm has a market capitalization of $52.98 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38. The business has a 50 day simple moving average of $43.56 and a two-hundred day simple moving average of $45.36. Devon Energy has a 1 year low of $31.47 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.

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

Devon Energy Announces Dividend

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

Insider Buying and Selling at Devon Energy

In other 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 transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tobam lifted its position in shares of Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after purchasing an additional 230 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Devon Energy by 3.4% during the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after purchasing an additional 236 shares in the last quarter. Retirement Planning Group LLC increased its holdings in Devon Energy by 4.5% during the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after buying an additional 243 shares during the period. JFS Wealth Advisors LLC increased its holdings in Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares during the period. Finally, Catalyst Financial Partners LLC increased its holdings in Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after buying an additional 254 shares during the period. 69.72% of the stock is currently owned by institutional investors.

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.