Devon Energy/$DVN
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Capital at risk
About Devon Energy
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. After the merger with Coterra, it will have a foothold in the gas-driven Appalachian Basin as well. At the end of 2025, Devon reported net proved reserves of 2.4 billion barrels of oil equivalent, up from 2.2 billion in 2024. Net production averaged roughly 840,000 barrels of oil equivalent per day in 2025 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
- Ticker
- $DVN
- Sector
- Energy
- Primary listing
- NYSE
- Employees
- 2,200
- Headquarters
- Houston, United States
- Website
- www.devonenergy.com
Devon Energy Metrics
BasicAdvanced
$54B
10.06
$4.66
0.42
$1.04
2.73%
Price and volume
Market cap
$54B
Beta
0.42
52-week high
$52.71
52-week low
$31.47
Average daily volume
12M
Dividend rate
$1.04
Financial strength
Current ratio
0.717
Quick ratio
0.584
Long term debt to equity
0.245
Total debt to equity
0.281
Dividend payout ratio (TTM)
25.03%
Interest coverage (TTM)
9.56%
Profitability
EBITDA (TTM)
8,924
Gross margin (TTM)
50.35%
Net profit margin (TTM)
17.46%
Operating margin (TTM)
25.74%
Effective tax rate (TTM)
21.93%
Revenue per employee (TTM)
$8,540,000
Management effectiveness
Return on assets (TTM)
5.92%
Return on equity (TTM)
11.52%
Valuation
Price to earnings (TTM)
10.062
Price to revenue (TTM)
1.75
Price to book
1.05
Price to tangible book (TTM)
1.07
Price to free cash flow (TTM)
22.273
Free cash flow yield (TTM)
4.49%
Free cash flow per share (TTM)
2.107
Dividend yield (TTM)
2.22%
Forward dividend yield
2.73%
Growth
Revenue change (TTM)
15.33%
Earnings per share change (TTM)
4.87%
3-year revenue growth (CAGR)
5.30%
10-year revenue growth (CAGR)
5.92%
3-year earnings per share growth (CAGR)
-14.02%
10-year earnings per share growth (CAGR)
-16.42%
3-year dividend per share growth (CAGR)
-38.68%
10-year dividend per share growth (CAGR)
2.92%
What the Analysts think about Devon Energy
Analyst ratings (Buy, Hold, Sell) for Devon Energy stock.
Analyst projections of the future price of Devon Energy stock.
Bulls say / Bears say
Devon beat its second-quarter operating targets, producing 503,000 barrels of oil per day and generating $1.7 billion of adjusted free cash flow. It also tightened its full-year oil guidance and expects third-quarter production to rise further. (Devon Energy, SEC filing via Last10K)
The Coterra merger gives Devon a larger Delaware-centred platform and a target of at least $1 billion in annual pre-tax synergies by the end of 2027. If delivered, those savings should support stronger free cash flow and shareholder returns. (Nasdaq, GlobeNewswire)
Devon added 16,300 net acres and about 400 premium drilling locations in the Delaware Basin, strengthening its highest-priority inventory. A potential sale of Eagle Ford and Powder River assets, reportedly worth more than $4 billion, could also concentrate capital on the Permian and improve the balance sheet. (SEC filing via Last10K, Reuters)
The $1 billion synergy goal remains an execution promise rather than a fully demonstrated result. More than 350 initiatives are underway, but recent reporting noted that Devon has not yet quantified a clear 2026 contribution, leaving room for delays or smaller savings. (Simply Wall St, SEC filing via Last10K)
The Coterra deal increases exposure to natural gas, where Waha pricing and pipeline constraints remain a problem. Devon says the issue is not going away, so weak regional gas prices could reduce margins and cash available for buybacks or variable dividends. (Exa, AlphaStreet)
Devon is still deciding how to reshape its six-basin portfolio, while investors are pressing it to sell non-core assets after the merger. Until that review produces clear actions, the enlarged business could retain a conglomerate discount and face continued capital-allocation uncertainty. (Reuters, GlobeNewswire)
Data summarised monthly by Lightyear AI. Last updated on 16 Sept 2026.
Devon Energy Financial Performance
Revenues and expenses
Devon Energy Earnings Performance
Company profitability
Upcoming events
Devon Energy News
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Funds containing Devon Energy
AllUSDEURGBP
Fund name | Fund size | $DVN weighting |
|---|---|---|
iShares Oil & Gas Exploration & Production$IOGP | $438M | 7.17% |
iShares Oil & Gas Exploration & Production€IOGP | €376M | 7.17% |
iShares Oil & Gas Exploration & Production£SPOG | £323M | 7.17% |
iShares S&P 500 Energy Sector$IUES | $1.8B | 2.31% |
iShares S&P 500 Energy Sector€QDVF | €1.5B | 2.31% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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