Houston, Texas-based Devon Energy Corporation (DVN) is an independent energy company that engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. Valued at a market cap of $54.1 billion, the company operates in the Delaware Basin located in southeast New Mexico and west Texas, the Eagle Ford, Anadarko Basin, Williston Basin, and Powder River Basin.
DVN is expected to release its Q3 2026 earnings on Thursday, November 5, 2026, after the market closes. Ahead of this event, analysts anticipate the company will generate earnings of $1.22 per share, representing an increase of 17.3% from $1.04 per share reported in the same quarter last year. The company has surpassed the Street’s bottom-line estimates in each of the past four quarters.
For fiscal 2026, analysts expect the company to report an EPS of $5.39, indicating a 37.5% rise from $3.92 reported in fiscal 2025. Its EPS is expected to fall 2% and come in at $5.28 in fiscal 2027.
Devon Energy shares have grown 48.5% over the past 52 weeks, outpacing the S&P 500 Index’s ($SPX) 14.4% rise but lagging behind the State Street Energy Select Sector SPDR ETF’s (XLE) 53% rise during the same time frame.
On Aug. 4, DVN released its better-than-expected Q2 2026 earnings. The company’s revenue for the quarter rose by an impressive 80.2% from the previous year’s quarter to $7.4 billion and surpassed the Street’s estimates. The growth was primarily due to a robust 61.6% YoY rise in its oil production per day. Additionally, its adjusted EPS came in at $1.57, also topping Wall Street’s forecasts.
The consensus opinion on the stock is highly bullish, with a “Strong Buy” rating overall. Of the 28 analysts covering the stock, 25 recommend a “Strong Buy,” one suggests a “Moderate Buy,” and two recommend a “Hold.” DVN’s average analyst price target is $60.50 and offers a 19.3% upside.
On the date of publication, Aritra Gangopadhyay 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.