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 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
0
Funds holding %
of 7,431 funds
0
Analysts bullish %
of 7 analysts
Fund manager confidence
Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
0.72% less ownership
Funds ownership: 75.0% [Q1] → 74.28% (-0.72%) [Q2]
9% less repeat investments, than reductions
Existing positions increased: 392 | Existing positions reduced: 431
5% less funds holding
Funds holding: 1,137 [Q1] → 1,076 (-61) [Q2]
17% less capital invested
Capital invested by funds: $18.2B [Q1] → $15.2B (-$3.01B) [Q2]
24% less first-time investments, than exits
New positions opened: 116 | Existing positions closed: 152
27% less call options, than puts
Call options by funds: $444M | Put options by funds: $612M
43% less funds holding in top 10
Funds holding in top 10: 14 [Q1] → 8 (-6) [Q2]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$40
14%
upside
Avg. target
$45
28%
upside
High target
$57
62%
upside
7 analyst ratings
5 positive
71%
2 neutral
29%
0 negative
0%
UBS Josh Silverstein | 14%upside $40 | Neutral Maintained | 20 Aug 2025 |
Morgan Stanley Devin McDermott | 39%upside $49 | Overweight Maintained | 18 Aug 2025 |
Piper Sandler Mark Lear | 62%upside $57 | Overweight Maintained | 14 Aug 2025 |
Wells Fargo Roger Read | 22%upside $43 | Overweight Maintained | 12 Aug 2025 |
Barclays Betty Jiang | 19%upside $42 | Equal-Weight Maintained | 6 Aug 2025 |
Financial journalist opinion
Based on 22 articles about DVN published over the past 30 days
Positive
Kiplinger
21 hours ago
30 Stocks That Could Rally 30% or More
Analysts say these S&P 500 stocks have at least 30% price upside over the next year or so.
Positive
Seeking Alpha
1 day ago
Devon Energy: The Best Opportunity In US Oil Today That I'm Buying
Devon Energy is a highly efficient, low-cost US oil and gas producer with strong growth, capital discipline, and proactive management amid volatile markets. Significant recent investments and acquisitions have driven record production, with capital efficiency and cost improvements supporting robust free cash flow even at lower oil prices. The company is undervalued versus peers, offers a ~10% total yield via buybacks and dividends, and is a potential acquisition target due to its attractive assets.
Positive
Seeking Alpha
2 days ago
Devon Energy: Mispriced Upstream Play For Deep Value Investors
Devon Energy has been able to prove its excellent upstream thesis, with the improved capital efficiency and the higher production outputs well balancing the lower spot prices. Thanks to the OPEC+ accelerated output hikes and the US' higher crude oil production, it is unsurprising that the EIA already expects further supply/demand imbalance. These imply that the moderating oil and gas spot prices in 2026 are likely to suppress DVN's near-term prospects, albeit well balanced by the higher NGL exports/spot prices.
Neutral
Seeking Alpha
3 days ago
Devon Energy: Maintaining Free Cash Flow Despite The Decline In Oil
Devon Energy has maintained a strong free cash flow yield despite lower oil prices, thanks to improved operating efficiency and disciplined capital spending. The company is positioned to grow free cash flow by over 20% in 2026 through better NGL pricing, lower costs, and significant tax savings. DVN trades at a compelling valuation, with hidden value from future cost and tax improvements not yet reflected in its multiple.
Positive
Zacks Investment Research
4 days ago
Investors Heavily Search Devon Energy Corporation (DVN): Here is What You Need to Know
Devon Energy (DVN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Neutral
24/7 Wall Street
4 days ago
Bank of America Says Nifty Fifty In Trouble – 5 Low PE Dividend Strong Buy Bargains
Savita Subramanian, the head of equity and quantitative strategies, has been one of the voices at Bank of America that we have followed for years at 24/7 Wall St.
Positive
Seeking Alpha
4 days ago
Devon Energy: Growth Ahead
Devon Energy continues to beat guidance, demonstrating strong capital efficiency and robust free cash flow generation, making it an attractive investment. The company is committed to shareholder returns through dividends and aggressive share repurchases, supported by a healthy balance sheet and manageable debt. Devon's improved capital efficiency and increased production guidance, especially after the Grayson Mill acquisition, drive double-digit FCF yields at current oil prices.
Neutral
GlobeNewsWire
5 days ago
Devon Energy to Participate in a Fireside Chat at the Barclays 39th Annual CEO Energy & Power Conference
OKLAHOMA CITY, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced Clay Gaspar, President and CEO will participate in a fireside chat at the Barclays 39th Annual CEO Energy & Power Conference.
Positive
Reuters
1 week ago
British Gas owner Centrica enters natural gas deal with US-based Devon Energy
British Gas owner Centrica said on Friday it has entered into a natural gas agreement with Devon Energy , in which the U.S.-based firm will supply an equivalent to five LNG cargoes per year over a 10-year term from 2028.
Neutral
Seeking Alpha
2 weeks ago
Devon Energy Corporation (DVN) Q2 2025 Earnings Call Transcript
Devon Energy Corporation (NYSE:DVN ) Q2 2025 Earnings Call August 6, 2025 11:00 AM ET Company Participants Clay M. Gaspar - President, CEO & Director Jeffrey L.
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