Zacks Research Lowers Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Equities researchers at Zacks Research cut their FY2028 EPS estimates for shares of Devon Energy in a report released on Thursday, April 9th. Zacks Research analyst Team now forecasts that the energy company will post earnings per share of $4.01 for the year, down from their previous estimate of $4.06. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share.

Several other brokerages have also recently commented on DVN. Capital One Financial raised their price target on shares of Devon Energy from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, March 26th. Weiss Ratings raised shares of Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Siebert Williams Shank raised their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Raymond James Financial raised their price target on shares of Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Finally, Barclays raised their price target on shares of Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Devon Energy Stock Performance

Shares of DVN stock opened at $47.85 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. Devon Energy has a 52 week low of $26.76 and a 52 week high of $52.71. The stock has a market capitalization of $29.74 billion, a PE ratio of 11.47, a P/E/G ratio of 0.95 and a beta of 0.47. The firm has a 50 day moving average of $46.05 and a two-hundred day moving average of $39.19.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis.

Institutional Investors Weigh In On Devon Energy

Institutional investors have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Devon Energy during the 4th quarter worth $25,000. PFS Partners LLC purchased a new stake in shares of Devon Energy during the 3rd quarter worth $25,000. First Horizon Corp purchased a new stake in shares of Devon Energy during the 3rd quarter worth $26,000. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the 2nd quarter worth $25,000. Finally, MV Capital Management Inc. purchased a new stake in shares of Devon Energy during the 4th quarter worth $29,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Devon Energy’s payout ratio is 23.02%.

Devon Energy News Roundup

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

• Positive Sentiment: Truist reiterated its Buy rating on Devon, signaling continued institutional confidence in the company’s outlook and capital-return prospects. Truist Financial Sticks to Their Buy Rating for Devon Energy (DVN)
• Positive Sentiment: An analyst price target was raised to $60, which supports upside potential versus current levels and can attract value-oriented and momentum buyers. Devon Energy (NYSE:DVN) Price Target Raised to $60.00
• Positive Sentiment: Bank of America included Devon among dividend-paying energy names it still favors, reinforcing the stock’s appeal to income-oriented investors if cash returns remain stable. Bank of America Still Loves 4 Dividend Paying Energy Stocks Even After Oil Plunged
• Neutral Sentiment: RBC Capital maintained a Hold rating, a reminder that not all firms expect near-term upside; this can limit broad analyst-driven rallies. RBC Capital Keeps Their Hold Rating on Devon Energy (DVN)
• Negative Sentiment: Short interest jumped ~35.9% in March to ~33.16M shares (~5.4% of float), increasing bearish pressure and the risk of volatile moves if sentiment flips. (No link)
• Negative Sentiment: Zacks trimmed its FY2028 EPS forecast slightly (from $4.06 to $4.01) and carries a Hold stance, signaling modest downward risk to near-term earnings expectations. (Zacks coverage discussed in recent summaries)
• Negative Sentiment: Seeking Alpha published a bearish take titled “The Easy Money Has Been Made,” arguing limited upside from current levels — the piece can pressure momentum buyers. Devon Energy: The Easy Money Has Been Made
• Negative Sentiment: Devon called a special shareholder meeting for May 4 to vote on doubling authorized common shares — this increases flexibility for mergers/capital raises but raises dilution concerns that can weigh on the stock until outcomes are clearer. Devon Energy Share Authorization Vote May Reshape Merger And Capital Plans
• Negative Sentiment: Recent headlines noted the stock declined earlier this week amid a market uptick, reflecting sensitivity to sector moves and the items above. Devon Energy (DVN) Stock Falls Amid Market Uptick: What Investors Need to Know

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.