Devon Energy
About: Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Employees: 1,900
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
17% more repeat investments, than reductions
Existing positions increased: 488 | Existing positions reduced: 416
17% more funds holding in top 10
Funds holding in top 10: 12 [Q1] → 14 (+2) [Q2]
8% more call options, than puts
Call options by funds: $1.1B | Put options by funds: $1.02B
1% less funds holding
Funds holding: 1,199 [Q1] → 1,186 (-13) [Q2]
6% less capital invested
Capital invested by funds: $23.2B [Q1] → $21.7B (-$1.49B) [Q2]
10% less first-time investments, than exits
New positions opened: 111 | Existing positions closed: 124
15.81% less ownership
Funds ownership: 88.37% [Q1] → 72.56% (-15.81%) [Q2]
Research analyst outlook
18 Wall Street Analysts provided 1 year price targets over the past 3 months
18 analyst ratings
Susquehanna Biju Perincheril 32% 1-year accuracy 20 / 63 met price target | 54%upside $62 | Positive Maintained | 18 Oct 2024 |
Piper Sandler Mark Lear 32% 1-year accuracy 21 / 65 met price target | 39%upside $56 | Overweight Maintained | 15 Oct 2024 |
Scotiabank Paul Cheng 15% 1-year accuracy 5 / 33 met price target | 19%upside $48 | Sector Outperform Maintained | 10 Oct 2024 |
Mizuho Nitin Kumar 21% 1-year accuracy 13 / 61 met price target | 27%upside $51 | Outperform Maintained | 9 Oct 2024 |
BMO Capital Phillip Jungwirth 6% 1-year accuracy 1 / 16 met price target | 19%upside $48 | Outperform Maintained | 4 Oct 2024 |
Financial journalist opinion
Based on 24 articles about DVN published over the past 30 days
