Zacks Research Lowers Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Research analysts at Zacks Research lowered their Q1 2026 earnings per share estimates for shares of Devon Energy in a note issued to investors on Monday, March 2nd. Zacks Research analyst Team now expects that the energy company will earn $0.73 per share for the quarter, down from their previous estimate of $0.96. Zacks Research currently has a “Strong Sell” 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 Q3 2026 earnings at $0.63 EPS, FY2026 earnings at $2.86 EPS, Q1 2027 earnings at $0.58 EPS, Q2 2027 earnings at $0.93 EPS, Q3 2027 earnings at $0.88 EPS and FY2027 earnings at $3.30 EPS.

Several other equities research analysts have also recently weighed in on the stock. Susquehanna upped their price target on shares of Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. Barclays boosted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Sanford C. Bernstein lowered their target price on Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group boosted their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Twenty-three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.74.

Devon Energy Stock Down 2.2%

Shares of Devon Energy stock opened at $43.97 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 4.36 and a beta of 0.56. The firm’s 50-day moving average is $39.96 and its two-hundred day moving average is $36.67. Devon Energy has a 1 year low of $25.89 and a 1 year high of $46.15.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share.

Devon Energy Announces Dividend

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

Institutional Trading of Devon Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in Devon Energy by 0.6% during the 4th quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock worth $1,301,914,000 after buying an additional 212,074 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Devon Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after acquiring an additional 186,743 shares in the last quarter. Victory Capital Management Inc. grew 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 worth $509,779,000 after acquiring an additional 2,071,021 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 6.3% during the third quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock valued at $327,938,000 after acquiring an additional 552,068 shares in the last quarter. Finally, Kimmeridge Energy Management Company LLC increased its holdings in shares of 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 valued at $324,204,000 after acquiring an additional 3,195,862 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Key Stories Impacting Devon Energy

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

• Positive Sentiment: BMO Capital Markets raised its price target on DVN to $55 from $45 and reiterated an “Outperform” rating — implying roughly ~24% upside from the referenced price — which supports a bullish near-term view. MarketScreener
• Positive Sentiment: Mizuho reaffirmed its “Outperform” rating and $51 price target after Devon’s Q4 results (adjusted EPS $0.82; revenue beat at ~$4.12B). Analyst support and the revenue beat underpin investor confidence. Mizuho Reaffirms Outperform
• Positive Sentiment: Geopolitical risk: coverage highlights that recent US‑Israel strikes on Iran could push oil prices higher. As a large U.S. E&P, Devon stands to benefit from higher hydrocarbon prices if disruptions widen, providing an upside catalyst separate from company-specific news. Oil Prices Set to Spike
• Neutral Sentiment: Devon’s Q4 results showed adjusted EPS roughly in line with consensus while revenue beat — a mixed report that removes downside surprise risk but doesn’t dramatically raise near-term earnings guidance.
• Negative Sentiment: Zacks Research cut multiple near‑term EPS forecasts (Q2 2026, Q4 2026, Q4 2027) and assigns a “Strong Sell” rating, signaling lowered expectations for Devon’s earnings trajectory and weighing on sentiment. (Consensus FY2026 remains near $4.85/share.)
• Negative Sentiment: Scotiabank lowered its FY2027 EPS estimates, further adding to the wave of downward revisions to forward earnings that could pressure the stock until clarity on volumes/prices and capital returns emerges. American Banking News

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.