Zacks Research Reduces Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Equities research analysts at Zacks Research cut their Q2 2026 earnings per share estimates for shares of Devon Energy in a research note issued on Monday, June 29th. Zacks Research analyst Team now forecasts that the energy company will post earnings per share of $1.09 for the quarter, down from their prior forecast of $1.25. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Devon Energy’s FY2028 earnings at $4.73 EPS.

Several other research analysts also recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, April 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Devon Energy in a research note on Thursday, June 11th. Sanford C. Bernstein boosted their price target on shares of Devon Energy from $42.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Tudor Pickering upgraded shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Devon Energy in a research report on Monday, June 8th. They set an “overweight” rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.81.

Devon Energy Stock Down 1.6%

Shares of DVN opened at $41.32 on Wednesday. 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 has a 12 month low of $31.45 and a 12 month high of $52.71. The stock’s 50 day moving average is $45.86 and its two-hundred day moving average is $43.59. The firm has a market cap of $25.68 billion, a P/E ratio of 11.51 and a beta of 0.37.

Devon Energy (NYSE:DVN) last released its quarterly 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). The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS.

Institutional Investors Weigh In On Devon Energy

Large investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Devon Energy in the fourth quarter valued at about $25,000. Ameriflex Group Inc. lifted its stake in shares of Devon Energy by 702.0% in the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares in the last quarter. MV Capital Management Inc. acquired a new position in Devon Energy during the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC acquired a new position in Devon Energy during the fourth quarter worth about $29,000. Finally, Neo Ivy Capital Management purchased a new stake in Devon Energy during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity

In other news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred 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 sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’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 sale, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 over the last quarter. 4.58% of the stock is currently owned by corporate insiders.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.1%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is 35.65%.

Devon Energy News Summary

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

• Positive Sentiment: Zacks Research raised several near- and longer-term earnings estimates for Devon Energy, including Q3 2026, Q4 2026, Q1 2027, FY2026, and FY2027, which suggests improving profit expectations. Article Title
• Positive Sentiment: Goldman Sachs kept a Buy rating on DVN despite trimming its price target slightly to $53 from $54, implying continued upside from current levels. Article Title
• Neutral Sentiment: Devon Energy shareholders reinforced board and governance stability at the company’s 2026 annual meeting, a development that is supportive of continuity but not a major operating catalyst. Article Title
• Neutral Sentiment: Zacks noted that Devon Energy’s stock was moving lower even as the broader market rose, but the report did not identify a company-specific operational setback beyond the recent trading weakness. Article Title
• Negative Sentiment: Goldman Sachs did cut its price target, which may have added some mild downside pressure even though the firm stayed constructive on the stock. Article Title

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.