Devon Energy (DVN)

• Market cap: $21.5B
• 1 day: -2.62%
• 5 days: -2.48%
• 1 month: 0.5%
• 3 months: -2.2%
• 6 months: -3.56%
• Year to date: 1.38%
• 1 year: -14.58%
• 5 years: 266.85%
• 10 years: -13.56%
• Sector: Energy
• Industry: Oil & Gas Exploration & Production

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 2024, Devon reported net proved reserves of 2.2 billion barrels of oil equivalent. Net production averaged roughly 848,000 barrels of oil equivalent per day in 2024 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Employees: 2,300

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

0.02% more ownership

Funds ownership: 75.29% [Q1] → 75.31% (+0.02%) [Q2]

8% less repeat investments, than reductions

Existing positions increased: 396 | Existing positions reduced: 432

5% less funds holding

Funds holding: 1,138 [Q1] → 1,083 (-55) [Q2]

16% less capital invested

Capital invested by funds: $18.3B [Q1] → $15.4B (-$2.87B) [Q2]

23% less first-time investments, than exits

New positions opened: 118 | Existing positions closed: 153

27% less call options, than puts

Call options by funds: $540M | Put options by funds: $741M

43% less funds holding in top 10

Funds holding in top 10: 14 [Q1] → 8 (-6) [Q2]

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $40
• Avg. target: $45
• High target: $57

8 analyst ratings

• positive: 6 75%
• neutral: 2 25%
• negative: 0 0%

Mizuho Nitin Kumar	$40	Outperform Maintained	15 Sep 2025
UBS Josh Silverstein	$40	Neutral Maintained	20 Aug 2025
Morgan Stanley Devin McDermott	$49	Overweight Maintained	18 Aug 2025
Piper Sandler Mark Lear	$57	Overweight Maintained	14 Aug 2025
Wells Fargo Roger Read	$43	Overweight Maintained	12 Aug 2025