Quote Overview

Stock Activity

Open	52.20
Day Low	51.76
Day High	52.41
52 Wk Low	40.47
52 Wk High	55.09
Avg. Volume	6,825,831
Market Cap	33.38 B
Dividend	0.88 ( 1.67%)
Beta	2.19

Key Earnings Data

Earnings ESP	-0.96%
Most Accurate Est	1.09
Current Qtr Est	1.10
Current Yr Est	5.22
Exp Earnings Date	^*AMC5/1/24
Prior Year EPS	5.71
Exp EPS Growth (3-5yr) NA
Forward PE	10.07
PEG Ratio	NA

Oils-Energy » Oil and Gas - Exploration and Production - United States

*BMO = Before Market Open *AMC = After Market Close

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Style Scores B Value C Growth A Momentum A VGM
Zacks Rank	Hold 3
Zacks Industry Rank	Bottom 30%(177 out of 252)
Zacks Sector Rank	Top 44% (7 out of 16)
Earnings ESP	-0.96%
Research Reports for DVN Analyst \| Snapshot

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Top Peers	Symbol	Zacks Rank
Devon Energy	DVN
SM Energy	SM
Chord Energy Corporation	CHRD
EOG Resources	EOG
Geopark	GPRK
Mach Natural Resources LP	MNR
Pioneer Natural Resources	PXD

See all Oil and Gas - Exploration and Production - United States Peers

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Company Summary

Devon Energy Corporation based in Oklahoma City is an independent energy company engaged primarily in the exploration, development and production of oil and natural gas. The company’s oil and gas operations are mainly concentrated in the onshore areas of North America, primarily in the United States. The company was founded in 1971.

Subsequent to the sale of Devon’s Canadian business, its oil and gas exploration and production activities are solely concentrated in the United States. After completion of the Barnett Shale gas assets sale, the company will concentrate on oil assets in the United States. Devon Energy’s Upstream, and Marketing and Midstream operations contributed $10.8 billion and $4.34 billion, respectively, to 2023 revenues.

Devon’s strong U.S. operations are spread across the key oil assets of Delaware Basin, Eagle Ford, Anadarko Basin, Williston Basin and Powder River Basin. Initial production rates from new wells continued to improve in its five U.S. oil plays. With improved cycle time, incorporation of production optimization strategies and other cost-reduction initiatives, the company is able to lower breakeven costs across its portfolio of assets.

At 2023-end, Devon Energy had proved, developed and undeveloped reserves of 1,817 million barrels of oil equivalent (MMBoe), a tad higher than the 2022-end level of 1,815 MMBoe. During 2023, due to extension and discoveries, 322 MMBoe were added in reserves, while production and revision due to prices offset the addition.

Devon Energy acquired WPX Energy on Jan 7, 2021, to further strengthen its position in the Permian Basin. At present, Devon’s shareholders own 53% of the combined company and the rest is owned by WPX Energy’s shareholders. The deal appears to be a logical one, as both these players have high-quality assets in close proximity.