Zacks Research Reduces Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Research analysts at Zacks Research cut their Q1 2026 earnings estimates for Devon Energy in a note issued to investors on Monday, March 2nd. Zacks Research analyst Team now expects that the energy company will post earnings per share of $0.73 for the quarter, down from their previous estimate of $0.96. Zacks Research 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.

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

DVN has been the topic of several other reports. Jefferies Financial Group upped their price objective on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. BMO Capital Markets upped their target price 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 lowered their price target on shares of Devon Energy from $45.00 to $41.00 and set a “sector perform” rating for the company in a report on Monday, February 23rd. Wolfe Research lifted their price target on Devon Energy from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Finally, TD Cowen upgraded Devon Energy to a “hold” rating in a research report on Monday, February 9th. Twenty-three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.74.

Devon Energy Price Performance

NYSE:DVN opened at $43.97 on Wednesday. The business’s 50-day moving average is $39.96 and its 200 day moving average is $36.67. Devon Energy has a 12 month low of $25.89 and a 12 month high of $46.15. The company 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 current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48.

Devon Energy Dividend Announcement

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

Hedge Funds Weigh In On Devon Energy

Hedge funds have recently bought and sold shares of the business. PFS Partners LLC purchased a new stake in shares of Devon Energy during the third quarter valued at $25,000. First Horizon Corp purchased a new position in Devon Energy in the 3rd quarter worth about $26,000. Caldwell Trust Co bought a new stake in Devon Energy during the 2nd quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in Devon Energy in the 4th quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Devon Energy in the 4th quarter worth about $29,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy News Summary

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.