Devon Energy (NYSE:DVN) Sets New 12-Month High After Better-Than-Expected Earnings

Devon Energy Corporation (NYSE:DVN)’s share price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $45.29 and last traded at $43.8630, with a volume of 584780 shares trading hands. The stock had previously closed at $44.66.

The energy company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.39%. The business had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 6.4% on a year-over-year basis.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Devon Energy’s payout ratio is 23.02%.

More Devon Energy News

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

• Positive Sentiment: Q4 results slightly beat expectations — Devon reported $0.82 EPS vs. $0.81 consensus and revenue topped estimates, with production up and unit costs improving; the company emphasized a cash‑rich outlook on the earnings call, supporting buyback/dividend capacity. Devon Energy tops fourth-quarter profit estimates on production boost
• Positive Sentiment: All‑stock merger with Coterra announced — the deal is presented as reshaping Devon’s shale scale and return profile, which can drive synergies and higher free cash flow over time. Devon Energy Coterra All Stock Merger Reshapes Shale Scale And Returns
• Positive Sentiment: Dividend and capital return uplift — company declared a quarterly dividend and multiple reports note management raised the payout (Seeking Alpha flags a ~31% raise to $0.315), reinforcing the yield/cash‑return story that investors reward. Devon Energy raises dividend by 31% to $0.315 per share
• Positive Sentiment: Analyst support — Wolfe Research raised its price target to $58 and maintained an Outperform, signaling bullish analyst sentiment that can attract buyers. Wolfe Research adjusts price target on Devon Energy to $58
• Neutral Sentiment: Mixed analyst views across the energy sector — some outlets note analysts are conflicted on DVN and peers, reflecting divergent takes on merger benefits vs. commodity risk. Analysts Conflicted on These Energy Names: Devon Energy (DVN) and Select Energy Services (WTTR)
• Negative Sentiment: Management disclosed a new Technology/AI risk — Devon’s push to embed AI raises potential regulatory, cybersecurity and performance risks that could increase costs or operational exposure. Devon Energy’s AI Push Brings Efficiency Hopes but Heightened Regulatory, Cybersecurity and Performance Risks
• Negative Sentiment: Underlying profitability and cash flow compression YoY — several reports note steep year‑over‑year declines in profits and operating cash versus 2024, which tempers the beat and could limit upside if commodity prices weaken. Devon Energy Profit, Revenue Slip Ahead of Coterra Merger

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. TD Cowen raised Devon Energy to a “hold” rating in a report on Monday, February 9th. Wolfe Research lifted their price objective on Devon Energy from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating on shares of Devon Energy in a report on Friday, January 16th. Mizuho set a $51.00 price target on Devon Energy in a report on Tuesday, February 3rd. Finally, Citigroup raised their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.32.

Institutional Investors Weigh In On Devon Energy

Several large investors have recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its holdings in shares of Devon Energy by 3.4% during the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after acquiring an additional 236 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after purchasing an additional 254 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Devon Energy by 21.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after purchasing an additional 257 shares during the period. Zions Bancorporation National Association UT lifted its stake in shares of Devon Energy by 7.9% during the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock worth $129,000 after purchasing an additional 258 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC boosted its position in shares of Devon Energy by 0.3% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 113,537 shares of the energy company’s stock worth $4,159,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 0.8%

The firm has a market cap of $27.85 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 4.00 and a beta of 0.61. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $38.64 and a 200-day moving average price of $35.97.

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.