Zacks Research Has Weak Outlook for Devon Energy Q2 Earnings

Devon Energy Corporation (NYSE:DVN) – Zacks Research decreased their Q2 2026 EPS estimates for shares of Devon Energy in a report issued on Monday, March 2nd. Zacks Research analyst Team now expects that the energy company will post earnings of $0.79 per share for the quarter, down from their prior estimate of $0.89. 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 Q4 2026 earnings at $0.72 EPS, Q4 2027 earnings at $0.91 EPS and FY2028 earnings at $4.06 EPS.

DVN has been the subject of a number of other research reports. Capital One Financial decreased their price objective on Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. BMO Capital Markets lifted their price target on shares of Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday. Scotiabank dropped their price objective on shares of Devon Energy from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Monday, February 23rd. Finally, Wolfe Research upped their price objective on shares of Devon Energy from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Twenty-three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $47.74.

Devon Energy Stock Down 2.2%

Shares of NYSE:DVN opened at $43.97 on Tuesday. The firm has a market capitalization of $27.26 billion, a P/E ratio of 10.54, a P/E/G ratio of 4.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. The stock has a 50 day moving average price of $39.96 and a 200-day moving average price of $36.67. Devon Energy has a 52-week low of $25.89 and a 52-week high of $46.15.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping 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 business had revenue of $17.19 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the business posted $1.10 earnings per share. Devon Energy’s quarterly revenue was down 6.4% compared to the same quarter last year.

Institutional Investors Weigh In On Devon Energy

Several institutional investors and hedge funds have recently made changes to their positions in DVN. Tulsa Wealth Advisors INC bought a new position in Devon Energy in the 4th quarter valued at approximately $343,000. Tobam raised its stake in shares of Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after purchasing an additional 230 shares during the last quarter. MidFirst Bank bought a new position in shares of Devon Energy during the fourth quarter valued at $927,000. SG Trading Solutions LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at $891,000. Finally, Pacer Advisors Inc. increased its holdings in Devon Energy by 2,108.0% in the 4th 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. Institutional investors own 69.72% of the company’s stock.

Devon Energy Announces Dividend

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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th. Devon Energy’s dividend payout ratio is currently 23.02%.

Key Devon Energy News

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

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.