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: 1,900
0
Funds holding %
of 6,809 funds
0
Analysts bullish %
of 11 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
14% more repeat investments, than reductions
Existing positions increased: 475 | Existing positions reduced: 415
2.86% more ownership
Funds ownership: 74.47% [Q2] → 77.32% (+2.86%) [Q3]
8% less call options, than puts
Call options by funds: $782M | Put options by funds: $848M
2% less funds holding
Funds holding: 1,191 [Q2] → 1,164 (-27) [Q3]
7% less funds holding in top 10
Funds holding in top 10: 14 [Q2] → 13 (-1) [Q3]
15% less capital invested
Capital invested by funds: $22.3B [Q2] → $18.9B (-$3.44B) [Q3]
19% less first-time investments, than exits
New positions opened: 115 | Existing positions closed: 142
Research analyst outlook
11 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$43
40%
upside
Avg. target
$48
57%
upside
High target
$62
101%
upside
11 analyst ratings
7 positive
64%
4 neutral
36%
0 negative
0%
Piper Sandler Mark Lear 33% 1-year accuracy 53 / 163 met price target | 72%upside $53 | Overweight Maintained | 17 Dec 2024 |
Wells Fargo Roger Read 23% 1-year accuracy 23 / 99 met price target | 40%upside $43 | Overweight Maintained | 17 Dec 2024 |
Mizuho Nitin Kumar 19% 1-year accuracy 15 / 79 met price target | 53%upside $47 | Outperform Maintained | 16 Dec 2024 |
Citigroup Scott Gruber 41% 1-year accuracy 27 / 66 met price target | 56%upside $48 | Buy Maintained | 26 Nov 2024 |
Truist Securities Neal Dingmann 33% 1-year accuracy 47 / 141 met price target | 40%upside $43 | Hold Downgraded | 7 Nov 2024 |
Financial journalist opinion
Based on 20 articles about DVN published over the past 30 days
Positive
Zacks Investment Research
1 day ago
Devon Declines 32.2% in Six Months: Should You Bet on the Stock?
DVN stock, with its multi-basin portfolio, diverse commodity mix and accretive acquisition, is a consistent performer and is poised to move higher from the current levels.
Neutral
Seeking Alpha
3 days ago
Why The Market May Get Turned Upside Down In 2025
AI stocks have dominated the market in 2024, dragging the S&P 500 higher with them. I think the market may get turned upside down in 2025. I share why and also share some of my top picks for the new year.
Positive
Seeking Alpha
3 days ago
Devon Energy Is A Compelling Energy Buy For 2025
Devon Energy is a top choice for energy sector allocation, with strong value metrics and a significant production boost from the Grayson Mill acquisition. The company's stock has dropped over 50% from 2022 highs, presenting a buying opportunity, especially with a pro-energy administration under Donald Trump. Devon maintains an attractive dividend yield and is focused on debt reduction and share buybacks, positioning well for a potential oil price rally.
Positive
Seeking Alpha
4 days ago
Big Dividends And Buybacks: Permian Resources Or Devon Energy?
The recent pullback in energy stocks presents several attractive buying opportunities for dividend investors. I compare two particularly attractive opportunities in DVN and PR. I share which of these two dividend growth and big buyback energy stocks is the better buy right now.
Positive
Zacks Investment Research
5 days ago
Devon Energy Corporation (DVN) Is a Trending Stock: Facts to Know Before Betting on It
Zacks.com users have recently been watching Devon Energy (DVN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Positive
Seeking Alpha
5 days ago
Buy The Dip With Devon Energy
Devon Energy boasts a premium asset portfolio across five basins, with a strong focus on the Delaware Basin, driving efficient production and capital savings. Despite oil price volatility, Devon Energy's diversified assets and strong cash flow support continued dividends and share repurchases, making it a valuable investment. The company maintains a robust financial position with $4 billion in liquidity and a strategic debt reduction plan, targeting a
Positive
Zacks Investment Research
1 week ago
Wall Street Bulls Look Optimistic About Devon Energy (DVN): Should You Buy?
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Positive
The Motley Fool
1 week ago
3 Top Oil Stocks to Buy Before 2024 Is Over
Oil prices bounced around quite a bit in 2024. They rallied more than 20% at one point -- topping $85 per barrel -- before cooling off toward the end of the year.
Neutral
Reuters
1 week ago
Devon Energy CEO Rick Muncrief to retire, insider Gaspar to take helm
Devon Energy said on Monday that CEO Rick Muncrief, a U.S. shale industry veteran, will step down effective March 1, and will hand over the reins to Chief Operating Officer Clay Gaspar.
Neutral
GlobeNewsWire
1 week ago
Devon Energy President and CEO, Rick Muncrief, to Retire March 1, 2025; Clay Gaspar, Devon Chief Operating Officer, to Succeed Muncrief
OKLAHOMA CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the Board of Directors of Devon Energy Corporation (NYSE: DVN), effective March 1, 2025. The board of directors has appointed Clay Gaspar, currently Devon's Chief Operating Officer, to succeed Muncrief as President and CEO and as a member of the board, effective March 1, 2025.
Charts implemented using Lightweight Charts™