Q3 EPS Estimates for Devon Energy Boosted by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Stock analysts at Zacks Research boosted their Q3 2026 EPS 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 $1.24 for the quarter, up from their prior estimate of $1.06. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.97 per share. Zacks Research also issued estimates for Devon Energy’s Q4 2026 earnings at $1.16 EPS, FY2026 earnings at $4.53 EPS, Q1 2027 earnings at $1.26 EPS, Q2 2027 earnings at $1.03 EPS, Q3 2027 earnings at $1.19 EPS, Q4 2027 earnings at $1.23 EPS and FY2027 earnings at $4.70 EPS.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 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 firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Devon Energy’s quarterly revenue was down 14.5% on a year-over-year basis.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group set a $54.00 price objective on Devon Energy in a research note on Tuesday, June 23rd. Capital One Financial dropped their target price on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Mizuho increased their target price on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Citigroup raised their price target on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Wolfe Research set a $67.00 price target on shares of Devon Energy and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.85.

Devon Energy Stock Performance

NYSE DVN opened at $42.05 on Tuesday. 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 stock’s 50 day simple moving average is $45.92 and its 200-day simple moving average is $43.57. The company has a market cap of $26.13 billion, a PE ratio of 11.71 and a beta of 0.38. Devon Energy has a 1-year low of $31.45 and a 1-year high of $52.71.

Institutional Investors Weigh In On Devon Energy

A number of large investors have recently modified their holdings of DVN. Pacer Advisors Inc. raised its holdings in Devon Energy by 2,108.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after purchasing an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Devon Energy by 42,376.5% during the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after purchasing an additional 3,600,731 shares during the period. Kimmeridge Energy Management Company LLC boosted 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 valued at $324,204,000 after acquiring an additional 3,195,862 shares in the last quarter. AQR Capital Management LLC increased its position in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after purchasing an additional 2,802,137 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Devon Energy by 92.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company’s stock worth $260,692,000 after acquiring an additional 2,485,603 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. The trade was a 14.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was 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 in the company, valued at $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is currently owned by insiders.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. 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 35.65%.

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.