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 $20.1 billion by market cap, the company also has marketing and midstream operations primarily in North America, including gas, crude oil, and NGLs. The leading independent energy company is expected to announce its fiscal third-quarter earnings for 2025 after the market closes on Wednesday, Nov. 5.
Ahead of the event, analysts expect DVN to report a profit of $0.92 per share on a diluted basis, down 16.4% from $1.10 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 $3.98, down 17.4% from $4.82 in fiscal 2024. However, its EPS is expected to rise 2.8% year over year to $4.09 in fiscal 2026.
DVN stock has considerably underperformed the S&P 500 Index’s ($SPX) 14.8% gains over the past 52 weeks, with shares down 21.5% during this period. Similarly, it underperformed the Energy Select Sector SPDR Fund’s (XLE) 3.8% dip over the same time frame.
On Aug. 5, DVN shares closed up more than 1% after reporting its Q2 results. Its adjusted EPS of $0.84 topped Wall Street expectations of $0.83. The company’s revenue was $4.3 billion, surpassing Wall Street forecasts of $4 billion.
Analysts’ consensus opinion on DVN stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 28 analysts covering the stock, 18 advise a “Strong Buy” rating, two suggest a “Moderate Buy,” and eight give a “Hold.” DVN’s average analyst price target is $45.15, indicating an ambitious potential upside of 41.4% from the current levels.
