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: 2,300
0
Funds holding %
of 7,139 funds
0
Analysts bullish %
of 11 analysts
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
8% more funds holding in top 10
Funds holding in top 10: 13 [Q3] → 14 (+1) [Q4]
2.96% less ownership
Funds ownership: 77.83% [Q3] → 74.87% (-2.96%) [Q4]
9% less funds holding
Funds holding: 1,169 [Q3] → 1,064 (-105) [Q4]
14% less repeat investments, than reductions
Existing positions increased: 374 | Existing positions reduced: 437
15% less capital invested
Capital invested by funds: $19B [Q3] → $16.1B (-$2.9B) [Q4]
24% less call options, than puts
Call options by funds: $637M | Put options by funds: $835M
25% less first-time investments, than exits
New positions opened: 145 | Existing positions closed: 193
Research analyst outlook
11 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$43
15%
upside
Avg. target
$48
27%
upside
High target
$54
44%
upside
11 analyst ratings
8 positive
73%
3 neutral
27%
0 negative
0%
Susquehanna Biju Perincheril 26% 1-year accuracy 17 / 66 met price target | 39%upside $52 | Positive Maintained | 20 Feb 2025 |
Truist Securities Neal Dingmann 41% 1-year accuracy 63 / 153 met price target | 17%upside $44 | Hold Maintained | 20 Feb 2025 |
Benchmark Subash Chandra 32% 1-year accuracy 12 / 38 met price target | 17%upside $44 | Buy Reiterated | 20 Feb 2025 |
Barclays Betty Jiang 53% 1-year accuracy 16 / 30 met price target | 17%upside $44 | Equal-Weight Maintained | 20 Feb 2025 |
Piper Sandler Mark Lear 47% 1-year accuracy 82 / 174 met price target | 44%upside $54 | Overweight Maintained | 29 Jan 2025 |
Financial journalist opinion
Based on 36 articles about DVN published over the past 30 days
Positive
The Motley Fool
22 hours ago
If You Bought 1 Share of Devon Energy at Its IPO, Here's How Many Shares You Would Own Now
Devon Energy (DVN -0.28%) had very humble beginnings. In 1971, oil industry veteran John Nichols and his son Larry founded the company.
Neutral
Seeking Alpha
1 day ago
Devon Energy: Stay Away From This Value Trap
Despite an upgrade, FY '25's outlook shows minimal production growth and limited capex guidance upside for FY '25. So higher volumes are unlikely to be a source of upside for the stock. A mixed commodities price outlook suggests a ~13% headwind impact on DVN, which, I believe, will outweigh the impact of efficiency and productivity gains. DVN vs. S&P500 technicals show a murky outlook without a clear directional bias.
Positive
Zacks Investment Research
1 day ago
Devon Q4 Earnings & Revenues Beat Estimates, Production Increases
DVN reports better-than-expected fourth-quarter earnings and revenues. The company continues to enjoy benefits from its multi-basin assets.
Positive
The Motley Fool
2 days ago
Devon Energy's Record Production Fueled Robust Cash Flow And Cash Returns to Shareholders (Which Should Continue in 2025)
Devon Energy (DVN 7.71%) recently closed the book on a record year. The oil company reported record production volumes in the fourth quarter and full year.
Positive
Benzinga
2 days ago
Devon Energy Has Strong Tailwinds, Analyst Says
Devon Energy Corporation DVN shares are trading higher on Wednesday after the company reported strong fourth-quarter results on Tuesday after the bell.
Neutral
Seeking Alpha
2 days ago
Devon Energy Corporation (DVN) Q4 2024 Earnings Call Transcript
Devon Energy Corporation (NYSE:DVN ) Q4 2024 Earnings Conference Call February 19, 2025 11:00 AM ET Company Participants Rick Muncrief - President and CEO Clay Gaspar - COO Jeff Ritenour - CFO John Raines - SVP E&P Asset Management Tom Hellman - SVP E&P Operations Trey Lowe - SVP Technology and CTO Rosy Zuklic - VP, IR Conference Call Participants Scott Hanold - RBC Capital Markets Neal Dingmann - Truist Securities Neil Mehta - Goldman Sachs Arun Jayaram - J.P. Morgan Paul Cheng - Scotiabank Roger Read - Wells Fargo Kevin MacCurdy - Pickering Energy Partners John Freeman - Raymond James Doug Leggate - Wolfe Research Matthew Portillo - TPH John Davenport - Johnson Rice Operator Welcome to Devon Energy's Fourth Quarter 2024 Conference Call.
Positive
Seeking Alpha
3 days ago
Devon Energy: Oversold And On Sale Or A Value Trap? (Technical Analysis)
Devon Energy: Oversold And On Sale Or A Value Trap? (Technical Analysis)
Positive
Seeking Alpha
3 days ago
The More It Drops, The More Buffett And I Buy
Buffett and I are both doubling down on a sector that has lagged the market recently. This sector is filled with stocks that trade at deep discounts with strong balance sheets and rising dividends. Here's how to position your portfolio for potential massive upside alongside Buffett.
Neutral
Zacks Investment Research
3 days ago
Compared to Estimates, Devon Energy (DVN) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Devon Energy (DVN) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Positive
Zacks Investment Research
3 days ago
Devon Energy (DVN) Q4 Earnings and Revenues Surpass Estimates
Devon Energy (DVN) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $1.41 per share a year ago.
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