Zacks Research Forecasts Stronger Earnings for Devon Energy

Devon Energy Co. (NYSE:DVN) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Devon Energy in a note issued to investors on Wednesday, January 15th. Zacks Research analyst J. Saha now anticipates that the energy company will post earnings of $4.73 per share for the year, up from their previous forecast of $4.72. The consensus estimate for Devon Energy’s current full-year earnings is $4.72 per share. Zacks Research also issued estimates for Devon Energy’s Q4 2024 earnings at $1.06 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.11 EPS, Q4 2025 earnings at $1.04 EPS, FY2025 earnings at $4.47 EPS, Q1 2026 earnings at $0.99 EPS, Q2 2026 earnings at $1.17 EPS, Q3 2026 earnings at $1.06 EPS, Q4 2026 earnings at $0.95 EPS and FY2026 earnings at $4.16 EPS.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the business posted $1.65 earnings per share. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on the company. Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Susquehanna decreased their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday. TD Cowen decreased their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Finally, Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Down 0.0 %

Shares of NYSE DVN opened at $38.42 on Friday. Devon Energy has a 1 year low of $30.39 and a 1 year high of $55.09. The firm’s 50-day moving average is $35.50 and its 200-day moving average is $40.39. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $25.24 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.

Institutional Trading of Devon Energy

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy in the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in Devon Energy during the third quarter worth approximately $39,000. True Wealth Design LLC increased its position in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. Devon Energy’s payout ratio is 16.33%.

Devon Energy Company Profile

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.