Zacks Research Decreases Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Research analysts at Zacks Research reduced their Q1 2026 earnings estimates for Devon Energy in a research note issued to investors on Monday, March 2nd. Zacks Research analyst Team now forecasts that the energy company will earn $0.73 per share for the quarter, down from their previous forecast 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 research analysts have also recently commented on the stock. Citigroup increased their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Piper Sandler reduced their price objective on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Scotiabank lowered their target price on Devon Energy from $45.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. 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 report on Thursday, January 15th. Finally, Siebert Williams Shank increased 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 equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.65.

Devon Energy Price Performance

Shares of DVN opened at $43.51 on Wednesday. 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 twelve month low of $25.89 and a twelve month high of $46.15. The stock has a market capitalization of $26.98 billion, a P/E ratio of 10.43, a P/E/G ratio of 4.38 and a beta of 0.56. The company has a 50 day moving average of $40.10 and a 200-day moving average of $36.72.

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

Devon Energy Dividend Announcement

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

Institutional Investors Weigh In On Devon Energy

Hedge funds have recently added to or reduced their stakes in the business. PFS Partners LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $25,000. First Horizon Corp bought a new position in Devon Energy in the 3rd quarter valued at about $26,000. Caldwell Trust Co acquired a new stake in Devon Energy during the second quarter worth approximately $25,000. MV Capital Management Inc. bought a new stake in shares of Devon Energy during the fourth quarter worth approximately $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Devon Energy in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds 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 to $55 and maintained an “Outperform” rating, implying roughly 25% upside from the recent price. That call can attract momentum buying and provides a counterweight to recent downgrades. MarketScreener
• Positive Sentiment: Mizuho reaffirmed an Outperform rating and a $51 price target after Devon’s Q4 results (revenue beat at ~$4.12B, EPS roughly in line). That reinforces a view that Devon can deliver near-term operating resilience even as some models get trimmed. Mizuho Reaffirms Outperform
• Positive Sentiment: Heightened Middle East tensions and headlines suggesting strikes involving Iran have prompted analysts and outlets to expect oil-price spikes—an external catalyst that would likely boost cash flow and margins for large U.S. producers like Devon. This macro/geopolitical risk is a potential upside trigger for the stock. Oil price article
• Negative Sentiment: Zacks Research issued a sweeping set of earnings cuts across 2026–2028 (multiple quarterly and full‑year downgrades) and carries a “Strong Sell” rating. Notable revisions include FY2026 EPS trimmed to ~$2.86 (from ~$3.68 prior) and FY2027 to ~$3.30 (from ~$4.45), plus sharp cuts to several quarterly estimates (many quarters cut by large percentages). Those revisions increase near‑term downside risk as models are repriced and investor sentiment weakens. See the Devon profile for the Zacks coverage reference. Devon profile

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.