Zacks Research Predicts Increased Earnings for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Equities research analysts at Zacks Research lifted their Q2 2026 earnings estimates for Devon Energy in a research note issued on Monday, August 4th. Zacks Research analyst J. Saha now expects that the energy company will earn $1.00 per share for the quarter, up from their previous estimate of $0.96. 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 $0.98 EPS and Q2 2027 earnings at $1.23 EPS.

Several other brokerages also recently weighed in on DVN. Wells Fargo & Company upped their target price on Devon Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Friday, July 11th. Jefferies Financial Group lifted their price objective on shares of Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, July 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $58.00 target price (up from $53.00) on shares of Devon Energy in a research note on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.93.

Devon Energy Stock Performance

NYSE DVN opened at $32.45 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. Devon Energy has a 1-year low of $25.89 and a 1-year high of $46.04. The firm has a market capitalization of $20.83 billion, a P/E ratio of 7.27, a P/E/G ratio of 1.83 and a beta of 1.07. The business’s 50-day simple moving average is $32.99 and its 200-day simple moving average is $33.30.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.80%. Devon Energy’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. Devon Energy’s payout ratio is presently 21.87%.

Hedge Funds Weigh In On Devon Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares during the period. Victory Capital Management Inc. raised its position in Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock worth $430,805,000 after purchasing an additional 1,315,050 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the period. Invesco Ltd. lifted its stake in Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the period. Finally, Northern Trust Corp boosted its holdings in Devon Energy by 5.1% during the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock valued at $245,987,000 after purchasing an additional 316,460 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.