CORRECTED-Devon Energy Q4 core EPS beats analyst estimates

Overview

• Oil and gas producer's Q4 core EPS beat analyst expectations

• Adjusted net income for Q4 slightly beat analyst estimates

Outlook

• Devon expects Q1 2026 production to average 823,000 to 843,000 Boe per day

• Devon projects Q1 2026 capital spending to be approximately $900 mln

Result Drivers

• PRODUCTION OUTPERFORMANCE - Averaged 390,000 barrels of oil per day, exceeding top-end of guidance

• BUSINESS OPTIMIZATION - Achieved 85% of $1 bln optimization target, supporting significant free cash flow

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Devon Energy Corp is $46.00, about 3% above its February 13 closing price of $44.66

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 8 three months ago

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