Devon Energy/$DVN

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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. At the end of 2024, Devon reported net proved reserves of 2.2 billion barrels of oil equivalent. Net production averaged roughly 848,000 barrels of oil equivalent per day in 2024 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Ticker

$DVN
Sector

Primary listing

NYSE

Employees

2,300

Devon Energy Metrics

BasicAdvanced
$20B
7.22
$4.44
1.14
$0.94
2.99%

What the Analysts think about Devon Energy

Analyst ratings (Buy, Hold, Sell) for Devon Energy stock.

Bulls say / Bears say

On April 22, 2025, Devon announced a plan to increase annual free cash flow by $1 billion by the end of 2026, with nearly 30% of that target expected by the end of 2025 through cost reductions and increased efficiency.
Devon's Q2 2025 production reached 841,000 BOE per day, 3% above guidance, while capex was $932 million—7% below the midpoint. Net-debt-to-EBITDAX dropped to 0.9×, underscoring strong operational discipline and a solid balance sheet.
In Q1 2025, Devon agreed to sell its Matterhorn Pipeline stake for $375 million to improve its investment-grade standing, raised its full-year production guidance to 810,000–828,000 BOE per day, and lowered 2025 capex by $100 million, demonstrating enhanced efficiency.
Devon's Q2 free cash flow dropped to $589 million, down 41% from $1 billion in Q1 2025, fueling worries about the sustainability of cash generation.
Core earnings per share for Q2 2025 fell to $0.84 from $1.21 in Q1—a 31% decline, highlighting ongoing earnings volatility.
The $375 million sale of Devon’s Matterhorn Pipeline stake offers a one-time boost in liquidity, not a sustainable operational cash flow, spotlighting the company's reliance on asset sales to strengthen its balance sheet.
Data summarised monthly by Lightyear AI. Last updated on 9 Oct 2025.

Devon Energy Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Devon Energy Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
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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