Q1 EPS Estimates for Devon Energy Boosted by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Equities researchers at Zacks Research raised their Q1 2026 earnings per share estimates for 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 $0.89 for the quarter, up from their prior estimate of $0.73. 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. Zacks Research also issued estimates for Devon Energy’s Q2 2026 earnings at $1.35 EPS, Q3 2026 earnings at $1.04 EPS, Q4 2026 earnings at $1.11 EPS, FY2026 earnings at $4.38 EPS, Q1 2027 earnings at $0.91 EPS, Q2 2027 earnings at $1.23 EPS, Q3 2027 earnings at $1.19 EPS, Q4 2027 earnings at $1.10 EPS, FY2027 earnings at $4.42 EPS and Q1 2028 earnings at $0.85 EPS.

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

DVN has been the topic of several other research reports. Benchmark restated a “buy” rating on shares of Devon Energy in a research report on Friday, January 16th. Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein boosted their price target on Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group boosted their price target on Devon Energy from $44.00 to $53.00 and gave the company a “hold” rating in a research report on Monday. Finally, Wolfe Research boosted their price target on Devon Energy from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $53.11.

Devon Energy Stock Performance

Shares of DVN stock opened at $47.17 on Monday. The stock has a market capitalization of $29.31 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.93 and a beta of 0.47. Devon Energy has a 52-week low of $28.09 and a 52-week high of $52.71. The stock’s 50-day moving average price is $46.19 and its 200 day moving average price is $39.33. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Devon Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC acquired a new position in Devon Energy during the 4th quarter worth approximately $9,931,000. Allianz Asset Management GmbH grew its holdings in shares of Devon Energy by 4.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after acquiring an additional 33,974 shares during the period. Investors Research Corp grew its holdings in shares of Devon Energy by 13,787.5% in the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after acquiring an additional 27,575 shares during the period. Philip James Wealth Mangement LLC grew its holdings in shares of Devon Energy by 43.8% in the 4th quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock worth $5,911,000 after acquiring an additional 49,115 shares during the period. Finally, Greatmark Investment Partners Inc. grew its holdings in shares of Devon Energy by 5.6% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after acquiring an additional 30,435 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Dividend Announcement

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

Key Devon Energy News

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $59 and kept an “outperform” rating, signaling stronger analyst conviction and implying meaningful upside versus current levels. Bernstein Adjusts Price Target
• Positive Sentiment: Jefferies raised its target to $53 (maintaining a “hold”), a smaller but supportive lift that reduces near-term downside risk and helps underpin valuation. Jefferies Adjusts Price Target
• Positive Sentiment: BMO Capital (reported by Yahoo Finance) raised its target to $60 and kept an Outperform rating, reflecting bullish mark-to-market assumptions tied to geopolitical-driven oil price dynamics — another boost to consensus upside. Yahoo: Devon Among Best Cheap Large Caps
• Positive Sentiment: Zacks Research raised Q1 EPS estimates for Devon, which supports near-term earnings expectations and could help valuation if realized. Zacks Raises Q1 EPS Estimates
• Neutral Sentiment: Devon published pro forma details related to the Coterra merger; investors should review the disclosure for expected pro-forma production, costs, and capital allocation changes—potentially material but requiring deeper analysis. Devon Details Pro Forma Impact
• Neutral Sentiment: CNBC included Devon on a list of dividend stocks favored for steady income, which may attract income-oriented investors but is not a near-term catalyst on its own. CNBC Dividend Stocks
• Negative Sentiment: Zacks Research also published a note lowering some earnings estimates for Devon in a separate update, which introduces downside risk if revisions persist or actual results miss. Zacks Lowers Earnings Estimates

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.