FY2025 EPS Estimates for Devon Energy Lifted by Scotiabank

Devon Energy Co. (NYSE:DVN) – Equities researchers at Scotiabank increased their FY2025 earnings per share (EPS) estimates for Devon Energy in a research report issued on Wednesday, March 19th. Scotiabank analyst P. Cheng now anticipates that the energy company will post earnings per share of $4.50 for the year, up from their prior forecast of $4.20. The consensus estimate for Devon Energy’s current full-year earnings is $4.85 per share. Scotiabank also issued estimates for Devon Energy’s FY2026 earnings at $4.95 EPS.

A number of other research analysts have also issued reports on the stock. Piper Sandler upped their target price on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial boosted their price target on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Finally, Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.46.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $36.96 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $23.99 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy has a 52-week low of $30.39 and a 52-week high of $55.09. The stock’s fifty day simple moving average is $35.46 and its 200-day simple moving average is $36.92.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%.

Institutional Trading of Devon Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy in the 3rd quarter worth about $461,857,000. EnCap Partners GP LLC bought a new position in Devon Energy during the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in shares of Devon Energy in the 3rd quarter worth approximately $230,928,000. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Devon Energy during the 4th quarter valued at approximately $154,170,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

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.