Devon EnergyDVN
Market Cap: $25.9B
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)
18% more repeat investments, than reductions
Existing positions increased: 487 | Existing positions reduced: 413
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: $1.09B | Put options by funds: $1.01B
2% less funds holding
Funds holding: 1,197 [Q1] → 1,177 (-20) [Q2]
7% less capital invested
Capital invested by funds: $23.2B [Q1] → $21.7B (-$1.51B) [Q2]
16% less first-time investments, than exits
New positions opened: 108 | Existing positions closed: 128
15.88% less ownership
Funds ownership: 88.37% [Q1] → 72.48% (-15.88%) [Q2]
Research analyst outlook
13 Wall Street Analysts provided 1 year price targets over the past 3 months
13 analyst ratings
Susquehanna Biju Perincheril 44% 1-year accuracy 33 / 75 met price target | 52%upside $63 | Positive Maintained | 4 Sept 2024 |
RBC Capital Scott Hanold 30% 1-year accuracy 11 / 37 met price target | 38%upside $57 | Sector Perform Reiterated | 3 Sept 2024 |
Piper Sandler Mark Lear 24% 1-year accuracy 17 / 71 met price target | 38%upside $57 | Overweight Maintained | 15 Aug 2024 |
Wells Fargo Roger Read 29% 1-year accuracy 22 / 76 met price target | 33%upside $55 | Overweight Maintained | 14 Aug 2024 |
Wells Fargo Roger Read 29% 1-year accuracy 22 / 76 met price target | 38%upside $57 | Overweight Maintained | 23 Jul 2024 |
Financial journalist opinion
Based on 26 articles about DVN published over the past 30 days