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Stocks•28 April 2026•

1 min read

Scotiabank Sharply Raises 2026 EPS Estimates for EOG Resources and Devon Energy

Key Facts

1Scotiabank increased its FY2026 EPS estimates for EOG Resources from $8.15 to $15.65.

2Analysts raised FY2026 EPS estimates for Devon Energy from $2.20 to $6.25 per share.

3The firm maintained a Sector Perform rating for both EOG and DVN with price targets of $139.00 and $46.00 respectively.

Scotiabank analysts have significantly upgraded their fiscal year 2026 earnings per share (EPS) forecasts for energy majors EOG Resources and Devon Energy. For EOG Resources, the EPS estimate was raised from $8.15 to $15.65, while Devon Energy saw its projections climb from $2.20 to $6.25 per share. These upward revisions follow robust quarterly performances and updated financial modeling for the long-term outlook. Despite the substantial boost in earnings expectations, the bank maintained its Sector Perform rating for both equities. Price targets were set at $139.00 for EOG and $46.00 for DVN, respectively. The move highlights a positive outlook on the companies' operational efficiency and cash flow potential within the evolving energy landscape.