Oklahoma City, Oklahoma-based Devon Energy Corporation (DVN), is an independent energy company that explores, develops, and produces oil, natural gas, and natural gas liquids. Valued at $21.8 billion by market cap, the company also has marketing and midstream operations primarily in North America that include gas, crude oil, and NGLs. The leading independent energy company is expected to announce its fiscal first-quarter earnings for 2026 after the market closes on Tuesday, May 5.
Ahead of the event, analysts expect DVN to report a profit of $1.04 per share on a diluted basis, down 14.1% from $1.21 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect DVN to report EPS of $4.60, up 17.4% from $3.92 in fiscal 2025. However, its EPS is expected to fall marginally year over year to $4.59 in fiscal 2027.
DVN stock has outperformed the S&P 500 Index’s ($SPX) 28.9% gains over the past 52 weeks, with shares up 57.5% during this period. Similarly, it outperformed the State Street Energy Select Sector SPDR ETF’s (XLE) 41.3% returns over the same time frame.
On Feb. 17, DVN shares closed down more than 1% after reporting its Q4 results. Its adjusted EPS of $0.82 exceeded Wall Street expectations of $0.81. The company’s revenue was $4.1 billion, beating Wall Street forecasts of $4 billion.
Analysts’ consensus opinion on DVN stock is bullish, with a “Strong Buy” rating overall. Out of 27 analysts covering the stock, 21 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and four give a “Hold.” DVN’s average analyst price target is $57.36, indicating an ambitious potential upside of 26.8% from the current levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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