Devon EnergyDVN
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 Q3 regulatory filings by fund managers ($100M+ AUM)
14% more repeat investments, than reductions
Existing positions increased: 477 | Existing positions reduced: 417
2.71% more ownership
Funds ownership: 75.11% [Q2] → 77.83% (+2.71%) [Q3]
3% less first-time investments, than exits
New positions opened: 115 | Existing positions closed: 119
9% less call options, than puts
Call options by funds: $790M | Put options by funds: $865M
2% less funds holding
Funds holding: 1,193 [Q2] → 1,167 (-26) [Q3]
7% less funds holding in top 10
Funds holding in top 10: 14 [Q2] → 13 (-1) [Q3]
16% less capital invested
Capital invested by funds: $22.5B [Q2] → $19B (-$3.5B) [Q3]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
Piper Sandler Mark Lear 43% 1-year accuracy 76 / 176 met price target | 62%upside $54 | Overweight Maintained | 29 Jan 2025 |
Raymond James John Freeman 25% 1-year accuracy 5 / 20 met price target | 62%upside $54 | Outperform Maintained | 23 Jan 2025 |
Bernstein Bob Brackett 0% 1-year accuracy 0 / 6 met price target | 35%upside $45 | Outperform Upgraded | 15 Jan 2025 |
Benchmark Subash Chandra 25% 1-year accuracy 9 / 36 met price target | 32%upside $44 | Buy Upgraded | 14 Jan 2025 |
Truist Securities Neal Dingmann 35% 1-year accuracy 54 / 156 met price target | 26%upside $42 | Hold Maintained | 13 Jan 2025 |
Financial journalist opinion
Based on 24 articles about DVN published over the past 30 days









