William Blair Raises Earnings Estimates for Devon Energy

Devon Energy Corporation (NYSE:DVN) – Analysts at William Blair raised their Q3 2025 earnings per share (EPS) estimates for Devon Energy in a research report issued to clients and investors on Monday, October 27th. William Blair analyst N. Dingmann now forecasts that the energy company will post earnings per share of $0.84 for the quarter, up from their previous forecast of $0.82. William Blair has a “Outperform” rating on the stock. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share. William Blair also issued estimates for Devon Energy’s FY2025 earnings at $3.70 EPS, FY2027 earnings at $5.60 EPS, FY2028 earnings at $6.35 EPS and FY2029 earnings at $6.37 EPS.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company posted $1.41 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year.

A number of other brokerages have also issued reports on DVN. JPMorgan Chase & Co. lifted their target price on Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler dropped their target price on Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Evercore ISI lifted their target price on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. Siebert Williams Shank dropped their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, BMO Capital Markets lifted their target price on Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Devon Energy Stock Down 0.1%

Shares of NYSE DVN opened at $32.95 on Tuesday. Devon Energy has a 1 year low of $25.89 and a 1 year high of $40.54. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 2.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock’s 50-day simple moving average is $34.42 and its 200-day simple moving average is $33.06.

Hedge Funds Weigh In On Devon Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after buying an additional 2,802,137 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after buying an additional 2,252,918 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after buying an additional 2,098,568 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Devon Energy by 83.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after buying an additional 2,083,600 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Devon Energy during the first quarter valued at approximately $69,975,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by insiders.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, September 15th. Devon Energy’s payout ratio is presently 21.52%.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.