Zacks Research Reduces Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Analysts at Zacks Research dropped their Q2 2028 earnings per share estimates for shares of Devon Energy in a research note issued to investors on Monday, June 29th. Zacks Research analyst Team now expects that the energy company will post earnings per share of $1.02 for the quarter, down from their prior forecast of $1.05. 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.

Other equities analysts have also issued research reports about the stock. Wolfe Research set a $67.00 price objective on shares of Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Royal Bank Of Canada increased their target price on Devon Energy from $46.00 to $59.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Wells Fargo & Company raised their target price on Devon Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. UBS Group lowered their price target on Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Finally, TD Cowen increased their price objective on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $58.81.

Devon Energy Stock Performance

Devon Energy stock opened at $40.20 on Thursday. Devon Energy has a fifty-two week low of $31.45 and a fifty-two week high of $52.71. The firm’s 50 day simple moving average is $45.76 and its 200-day simple moving average is $43.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The company has a market cap of $24.98 billion, a P/E ratio of 11.20 and a beta of 0.38.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.32 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, June 15th. Devon Energy’s dividend payout ratio is currently 35.65%.

Insider Buying and Selling

In related news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the completion of the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 112,371 shares of company stock worth $5,258,059. Insiders own 4.58% of the company’s stock.

Institutional Investors Weigh In On Devon Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy in the fourth quarter worth $25,000. SouthState Bank Corp lifted its position in shares of Devon Energy by 173.6% in the first quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock worth $39,000 after buying an additional 486 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Devon Energy in the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $29,000. Finally, Ameriflex Group Inc. boosted its stake in shares of Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

More Devon Energy News

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

• Positive Sentiment: Goldman Sachs kept a Buy rating on Devon Energy while only modestly lowering its price target to $53, implying meaningful upside from current levels.
• Positive Sentiment: Morgan Stanley maintained an Overweight rating on Devon Energy, even though it reduced its price target to $63, reinforcing a constructive long-term view.
• Positive Sentiment: Several Zacks estimates were raised for 2026-2027 earnings, including Q3 2026, Q4 2026, Q1 2027 and FY2027, suggesting improved medium-term earnings expectations.
• Neutral Sentiment: Devon Energy scheduled its second-quarter 2026 earnings release for August 4 and its conference call for August 5, creating an upcoming catalyst for the stock. Article Title
• Negative Sentiment: Zacks Research cut Q2 2026 and Q2 2028 earnings estimates for Devon Energy and kept a Hold rating, reflecting caution on near-term earnings power.
• Negative Sentiment: Recent commentary also pointed to declining oil prices, which can pressure sentiment toward Devon Energy and the broader energy sector.

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.