Q2 EPS Estimates for Devon Energy Reduced by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Equities research analysts at Zacks Research lowered their Q2 2026 earnings per share (EPS) estimates for shares of Devon Energy in a research note issued to investors on Tuesday, May 19th. Zacks Research analyst Team now anticipates that the energy company will post earnings per share of $1.04 for the quarter, down from their prior forecast of $1.35. 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 Q3 2026 earnings at $1.03 EPS, Q4 2026 earnings at $0.89 EPS, FY2026 earnings at $3.99 EPS, Q2 2027 earnings at $1.04 EPS, Q3 2027 earnings at $1.06 EPS, Q4 2027 earnings at $1.00 EPS, FY2027 earnings at $4.10 EPS and FY2028 earnings at $4.03 EPS.

DVN has been the subject of a number of other reports. Royal Bank Of Canada upped their price target on Devon Energy from $46.00 to $59.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Siebert Williams Shank boosted their price target on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Wall Street Zen cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Citigroup increased their target price on Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, TD Cowen increased their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Devon Energy Stock Performance

Shares of DVN stock opened at $47.17 on Friday. The firm has a fifty day moving average price of $48.10 and a 200 day moving average price of $41.91. The company has a market cap of $29.31 billion, a P/E ratio of 13.14 and a beta of 0.43. Devon Energy has a 12 month low of $30.24 and a 12 month high of $52.71. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

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

Institutional Trading of Devon Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in 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 acquiring an additional 212,074 shares during the period. Geode Capital Management LLC raised its stake in Devon Energy by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock valued at $700,238,000 after acquiring an additional 186,743 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Devon Energy by 17.5% during 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 purchasing an additional 2,071,021 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Devon Energy by 2.5% during the 1st 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 in the last quarter. Finally, Kimmeridge Energy Management Company LLC raised its holdings in Devon Energy by 56.5% during 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 purchasing an additional 3,195,862 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In related news, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at $6,162,793.40. The trade was a 15.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy 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 sale, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.71% of the company’s stock.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 2.7%. 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: Devon Energy expanded its Delaware Basin footprint by buying 16,300 net undeveloped acres in New Mexico for about $2.6 billion, a move expected to add roughly 400 drilling locations, extend inventory life, and support future production growth. Reuters: Devon boosts Delaware Basin footprint with $2.6 billion land acquisition
• Positive Sentiment: Devon was reported as the biggest buyer in a record U.S. oil and gas lease auction, signaling an aggressive push to lock in high-quality acreage and strengthen its long-term asset base. Seeking Alpha: Devon Energy biggest buyer in record $4B U.S. oil and gas auction
• Positive Sentiment: Morgan Stanley raised its price target on DVN to $66 from $59 and reiterated an overweight rating, implying further upside from recent levels. MarketScreener: Morgan Stanley adjusts Devon Energy price target
• Positive Sentiment: Other analysts also sounded constructive, with Zacks raising near-term EPS estimates and maintaining a strong-buy view, while earlier coverage from Jefferies and Wells Fargo pointed to additional catalysts. TipRanks: Devon Energy expands Delaware Basin position with major acquisition
• Neutral Sentiment: Jim Cramer also publicly highlighted Devon Energy as a stock to buy, adding to the recent positive attention on the name. Yahoo Finance: Jim Cramer on Devon Energy
• Negative Sentiment: Energy stocks were generally lower on Thursday, which likely weighed on Devon Energy despite the company-specific positives. Yahoo Finance: Sector Update Energy Stocks Decline Thursday Afternoon

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.