FY2028 EPS Estimates for Devon Energy Cut by Zacks Research

Devon Energy Corporation (NYSE:DVN) – Research analysts at Zacks Research cut their FY2028 earnings per share estimates for Devon Energy in a research report issued to clients and investors on Thursday, April 9th. Zacks Research analyst Team now anticipates that the energy company will post earnings per share of $4.01 for the year, down from their previous forecast of $4.06. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share.

Devon Energy (NYSE:DVN) last posted 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 return on equity of 16.28% and a net margin of 15.37%.The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year.

Several other research analysts also recently commented on DVN. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research note on Friday, January 16th. Mizuho lifted their target price on Devon Energy from $51.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. BMO Capital Markets lifted their target price on Devon Energy from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Cowen lifted their target price on Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Finally, UBS Group lifted their target price on Devon Energy from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

Devon Energy Stock Down 0.0%

NYSE DVN opened at $47.89 on Friday. The stock’s 50-day moving average price is $45.90 and its 200-day moving average price is $39.09. 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 company has a market capitalization of $29.76 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47.

Institutional Trading of Devon Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in DVN. McAlvany Wealth Management LLC purchased a new position in Devon Energy during the 4th quarter valued at approximately $1,503,000. Purpose Unlimited Inc. purchased a new position in Devon Energy during the 4th quarter valued at approximately $130,000. World Investment Advisors grew its holdings in Devon Energy by 54.3% during the 4th quarter. World Investment Advisors now owns 46,916 shares of the energy company’s stock valued at $1,719,000 after buying an additional 16,505 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Devon Energy by 12.7% during the 4th quarter. Corient Private Wealth LLC now owns 116,073 shares of the energy company’s stock valued at $4,253,000 after buying an additional 13,124 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy during the 4th quarter valued at approximately $25,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Announces Dividend

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

Key Devon Energy News

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

• Positive Sentiment: BMO raised its price target to $60 and maintained an “outperform” rating, signaling analyst confidence and implying ~25% upside from current levels. BMO Raises PT to $60
• Positive Sentiment: Royal Bank of Canada lifted its target to $59 (sector perform), adding another institutional signal of higher fair value against recent prices. RBC Raises PT to $59
• Neutral Sentiment: Devon set Q1 2026 earnings release and call for May 5 — an upcoming catalyst that could move the stock depending on production, commodity realization and capital allocation commentary. Earnings Date May 5
• Neutral Sentiment: Devon called a special shareholder meeting for May 4 to approve doubling authorized common shares — this increases flexibility for M&A or capital raises but raises dilution/structuring questions that investors will parse ahead of any deal. Share Authorization Vote
• Neutral Sentiment: Sector commentary from Bank of America highlights continued market dislocations (shut-in barrels, dividend focus), which can be a mixed signal for Devon depending on oil recovery and cash-return priorities. BofA Sector Note
• Negative Sentiment: Shares recently moved lower (~4% on April 8) amid a broader market/sector drawdown; that pullback reflects near-term concern around oil prices and M&A execution risk. Stock Drop Article
• Negative Sentiment: A shareholder-lawfirm alert is investigating the proposed Coterra sale terms (share-exchange ratio), introducing potential legal/approval risk that could delay, alter or reprice the merger. Coterra Investor Alert

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.