Brokers Set Expectations for Devon Energy FY2027 Earnings

Devon Energy Corporation (NYSE:DVN) – Equities researchers at Scotiabank decreased their FY2027 earnings per share estimates for Devon Energy in a note issued to investors on Thursday, February 26th. Scotiabank analyst P. Cheng now expects that the energy company will post earnings per share of $2.75 for the year, down from their prior forecast of $3.05. Scotiabank has a “Sector Perform” rating and a $41.00 price objective on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share.

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

Several other brokerages also recently commented on DVN. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Thursday, February 19th. Mizuho set a $51.00 price objective on shares of Devon Energy in a research report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Sanford C. Bernstein cut their target price on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, Siebert Williams Shank upped their price target on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Twenty-three 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’s stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.37.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $43.59 on Monday. The stock has a market capitalization of $27.02 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 4.22 and a beta of 0.56. Devon Energy has a one year low of $25.89 and a one year high of $46.15. 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 business’s 50 day simple moving average is $39.63 and its two-hundred day simple moving average is $36.52.

Devon Energy Dividend Announcement

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

Institutional Investors Weigh In On Devon Energy

Several hedge funds have recently made changes to their positions in DVN. Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 2,108.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after buying an additional 6,097,658 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Devon Energy by 42,376.5% in the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after acquiring an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC lifted its position in Devon Energy by 56.5% in the 4th 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 boosted its stake 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 valued at $202,327,000 after purchasing an additional 2,802,137 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Devon Energy by 608.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,695,079 shares of the energy company’s stock valued at $98,721,000 after purchasing an additional 2,314,843 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

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.