Zacks Research Decreases Earnings Estimates for Devon Energy

Posted by Stanley Muller on Jul 2nd, 2026

Devon Energy Corporation (NYSE:DVN – Free Report) – Zacks Research lowered their Q2 2028 earnings per share estimates for Devon Energy in a research report issued on Monday, June 29th. Zacks Research analyst Team now expects that the energy company will post earnings per share of $1.02 for the quarter, down from their prior estimate of $1.05. 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.

Other equities research analysts have also recently issued research reports about the company. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Wells Fargo & Company increased their price objective on Devon Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Evercore raised Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Wednesday, June 10th. TD Cowen boosted their price target on Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group increased their price target on Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.81.

View Our Latest Research Report on Devon Energy

Devon Energy Trading Down 2.7%

Devon Energy stock opened at $40.20 on Thursday. Devon Energy has a 52-week low of $31.45 and a 52-week high of $52.71. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 11.20 and a beta of 0.38. The firm has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $43.61.

Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is 35.65%.

Insider Buying and Selling at Devon Energy

In other news, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 112,371 shares of company stock valued at $5,258,059. 4.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Devon Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $25,000. Ameriflex Group Inc. lifted its stake in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after purchasing an additional 702 shares during the last quarter. MV Capital Management Inc. acquired a new stake in Devon Energy during the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in Devon Energy during the fourth quarter worth approximately $29,000. Finally, Neo Ivy Capital Management acquired a new position in Devon Energy in the third quarter worth approximately $31,000. 69.72% of the stock is currently owned by institutional investors.

Key Stories Impacting Devon Energy

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

Positive Sentiment: Goldman Sachs kept a Buy rating on Devon Energy while only modestly lowering its price target to $53, implying meaningful upside from current levels.
Positive Sentiment: Morgan Stanley maintained an Overweight rating on Devon Energy, even though it reduced its price target to $63, reinforcing a constructive long-term view.
Positive Sentiment: Several Zacks estimates were raised for 2026-2027 earnings, including Q3 2026, Q4 2026, Q1 2027 and FY2027, suggesting improved medium-term earnings expectations.
Neutral Sentiment: Devon Energy scheduled its second-quarter 2026 earnings release for August 4 and its conference call for August 5, creating an upcoming catalyst for the stock. Article Title
Negative Sentiment: Zacks Research cut Q2 2026 and Q2 2028 earnings estimates for Devon Energy and kept a Hold rating, reflecting caution on near-term earnings power.
Negative Sentiment: Recent commentary also pointed to declining oil prices, which can pressure sentiment toward Devon Energy and the broader energy sector.

About Devon Energy

(Get Free Report)

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.