Devon Energy (NYSE:DVN – Get Free Report) released its earnings results on Thursday. The energy company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09, FiscalAI reports. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.57 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business’s revenue was up 66.5% on a year-over-year basis. During the same quarter last year, the business earned $1.04 EPS.
Devon Energy Trading Down 1.5%
Devon Energy stock traded down $0.66 during trading hours on Friday, hitting $42.22. The company had a trading volume of 19,155,887 shares, compared to its average volume of 8,706,947. The firm has a market cap of $46.45 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.27 and a beta of 0.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy has a 1 year low of $32.49 and a 1 year high of $52.71. The company has a 50-day moving average price of $48.64 and a two-hundred day moving average price of $46.04.
Devon Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.
Insider Transactions at Devon Energy
In related news, CEO Clay Gaspar bought 3,913 shares of Devon Energy stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the transaction, the chief executive officer owned 619,152 shares in the company, valued at $31,626,284.16. The trade was a 0.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the sale, the executive vice president directly owned 72,720 shares of the company’s stock, valued at $3,705,084. This represents a 8.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.58% of the stock is owned by corporate insiders.
Key Devon Energy News
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Devon reported Q3 adjusted earnings of $1.42 per share, ahead of analyst expectations. Production benefited from the Coterra merger, and the company generated about $2 billion in free cash flow. Management also raised expected merger synergies and plans to accelerate share repurchases. Devon Energy Posts $2 Billion in Free Cash Flow as Buybacks Accelerate
- Positive Sentiment: Devon declared a quarterly dividend of $0.32 per share, payable December 30 to shareholders of record December 15. Devon Energy Reports Third-Quarter 2026 Results
- Neutral Sentiment: Unusually high call-option activity suggests some traders are positioning for potential gains, but options volume alone does not establish the direction of future shares.
- Neutral Sentiment: Barclays lowered its price target to $57 from $60 but kept an Overweight rating, leaving the analyst’s view positive while trimming its valuation outlook.
- Negative Sentiment: Despite the earnings beat and strong year-over-year growth, Q3 revenue missed some analyst estimates—an offset to the production and cash-flow positives. Devon Q3 Earnings Outpace Estimates on Higher Output, Revenues Miss
- Negative Sentiment: Activist investor TOMS Capital renewed calls for a strategic transaction, saying it was disappointed by Devon’s decision against an asset sale while expressing willingness to engage with interested acquirers. The pressure may add uncertainty around the company’s strategy and capital allocation. TCIM Issues Statement Regarding Devon Energy’s Strategic Review
Analysts Set New Price Targets
Several brokerages have issued reports on DVN. Scotiabank initiated coverage on shares of Devon Energy in a research note on Wednesday, October 14th. They issued a “sector outperform” rating and a $61.00 price objective for the company. Seaport Research Partners started coverage on Devon Energy in a research note on Thursday, September 3rd. They set a “buy” rating and a $65.00 target price on the stock. Citigroup increased their price target on Devon Energy from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Mizuho reduced their price target on Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Finally, Morgan Stanley raised their price target on Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $60.61.
Get Our Latest Stock Report on Devon Energy
Devon Energy Company Profile
Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market.
Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins.
The company’s portfolio has evolved through acquisitions and asset sales over its history.
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