Akcie Devon Energy za poslední měsíc vzrostly o 7 %, zatímco konsenzuální odhad EPS pro aktuální čtvrtletí se za posledních 30 dní zvýšil o 5,4 % na 1,22 USD.
Devon Energy (DVN - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this oil and gas exploration company have returned +7%, compared to the Zacks S&P 500 composite's +0.7% change. During this period, the Zacks Oil and Gas - Exploration and Production - United States industry, which Devon Energy falls in, has gained 5.8%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Devon Energy is expected to post earnings of $1.22 per share for the current quarter, representing a year-over-year change of +17.3%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.4%.
For the current fiscal year, the consensus earnings estimate of $5.4 points to a change of +37.8% from the prior year. Over the last 30 days, this estimate has changed +2.3%.
For the next fiscal year, the consensus earnings estimate of $5.28 indicates a change of -2.1% from what Devon Energy is expected to report a year ago. Over the past month, the estimate has changed +4.6%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Devon Energy is rated Zacks Rank #2 (Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Devon Energy, the consensus sales estimate for the current quarter of $7.33 billion indicates a year-over-year change of +69.3%. For the current and next fiscal years, $26.02 billion and $28.22 billion estimates indicate +51.4% and +8.5% changes, respectively.
Last Reported Results and Surprise HistoryDevon Energy reported revenues of $7.42 billion in the last reported quarter, representing a year-over-year change of +73.1%. EPS of $1.57 for the same period compares with $0.84 a year ago.
Compared to the Zacks Consensus Estimate of $6.3 billion, the reported revenues represent a surprise of +17.76%. The EPS surprise was +20.77%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Devon Energy is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Devon Energy. However, its Zacks Rank #2 does suggest that it may outperform the broader market in the near term.
Devon Energy očekává čtvrtletní zisk ve výši 1,20 USD na akcii, což představuje meziroční nárůst o 15,4 %; konsenzuální odhad se za posledních 30 dní zvýšil o 5,7 %.
Devon Energy (DVN - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this oil and gas exploration company have returned -2.2%, compared to the Zacks S&P 500 composite's +1.3% change. During this period, the Zacks Oil and Gas - Exploration and Production - United States industry, which Devon Energy falls in, has lost 2.6%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Devon Energy is expected to post earnings of $1.20 per share, indicating a change of +15.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +5.7% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $5.35 points to a change of +36.5% from the prior year. Over the last 30 days, this estimate has changed +2.1%.
For the next fiscal year, the consensus earnings estimate of $5.28 indicates a change of -1.3% from what Devon Energy is expected to report a year ago. Over the past month, the estimate has changed +4.8%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Devon Energy.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
In the case of Devon Energy, the consensus sales estimate of $7.3 billion for the current quarter points to a year-over-year change of +68.5%. The $25.96 billion and $28.03 billion estimates for the current and next fiscal years indicate changes of +51% and +8%, respectively.
Last Reported Results and Surprise HistoryDevon Energy reported revenues of $7.42 billion in the last reported quarter, representing a year-over-year change of +73.1%. EPS of $1.57 for the same period compares with $0.84 a year ago.
Compared to the Zacks Consensus Estimate of $6.3 billion, the reported revenues represent a surprise of +17.76%. The EPS surprise was +20.77%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Devon Energy is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Devon Energy. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Devon Energy prodá svá aktiva v oblasti Eagle Ford společnosti Crescent Energy v hotovostní transakci za 4,2 miliardy USD. Uzavření transakce se očekává na konci roku 2026.
Transaction high-grades Devon’s portfolio, monetizes at an attractive valuation and enhances financial flexibility | Source: Devon Energy Corporation
HOUSTON, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced it has entered into a definitive agreement to sell its Eagle Ford assets to Crescent Energy Company for total consideration of $4.2 billion in cash, subject to customary closing adjustments.
“This sale is a direct outcome of our ongoing portfolio review, and it sharpens our focus on the highest-return, longest-duration assets,” said Clay Gaspar, President and Chief Executive Officer. “Over the past several years, we have leveraged technology to lower costs and increase productivity while coring up our Eagle Ford acreage footprint, and the attractive price agreed to reflects both the quality of the assets and that work. Selling a relatively mature asset into a strong commodity price environment improves our go-forward capital efficiency and allows us to accelerate share buybacks, strengthen our balance sheet and increase long-term value for shareholders.”
TRANSACTION HIGHLIGHTS
Asset details: The Eagle Ford assets to be sold consist of approximately 90,000 net acres in Karnes, DeWitt, and Gonzales Counties, Texas. The assets represent approximately 4% of Devon's total BOE production.Attractive valuation: The $4.2 billion purchase price fully reflects the value of Devon’s Eagle Ford production and inventory and is accretive on a per share basis to Free Cash Flow and Net Asset Value.Portfolio high-grading and improved capital efficiency: The divestiture lengthens Devon’s inventory life, lowers the go-forward corporate breakeven and reduces the corporate base production decline rate.Financial flexibility: After-tax proceeds will be used to accelerate share repurchases and to strengthen the balance sheet through debt reduction. “This transaction is our strategy at work,” added Gaspar. “We acted decisively and countercyclically while navigating a volatile macro environment and received a price above our internal hold case, including potential strategic upside. This divestiture builds on the accretive steps taken in 2026 – combining with Coterra, adding premier Delaware Basin inventory in the federal lease sale and investing in the Solitude pipeline to integrate our gas production from wellhead to market. This marks meaningful progress in our disciplined portfolio review. We remain focused on improving the quality and longevity of our portfolio, expanding our margins and enhancing long-term value per share.”
TIMING AND ADVISORS
The transaction has an effective date of July 1, 2026 and is expected to close around year-end 2026, subject to regulatory approvals and customary closing conditions. Devon will provide additional details, including the impact on its outlook, with its third-quarter 2026 results on November 5, 2026 and conference call and webcast on November 6, 2026.
RBC Richardson Barr is serving as exclusive financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Devon.
ABOUT DEVON ENERGY
Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” within the meaning of the federal securities laws. Such statements include those concerning strategic plans, our expectations and objectives for future operations, as well as other future events or conditions, and are often identified by use of the words and phrases “expects,” “believes,” “will,” “would,” “could,” “continue,” “may,” “aims,” “likely to be,” “intends,” “forecasts,” “projections,” “estimates,” “plans,” “expectations,” “targets,” “opportunities,” “potential,” “anticipates,” “outlook” and other similar terminology. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Devon expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results could differ materially and adversely from our expectations due to a number of factors, including, but not limited to: the delay or failure to consummate the transaction due to unsatisfied closing conditions or otherwise; the actual amount of proceeds received due to purchase price adjustments, and the ultimate use of those proceeds; changes in commodity prices, market conditions or other circumstances that could negatively impact Devon’s ability to complete the anticipated share repurchases and debt reductions; and any of the other risks and uncertainties discussed in Devon’s 2025 Annual Report on Form 10-K (the “2025 Form 10-K”) or other filings with the Securities and Exchange Commission (“SEC”).
The forward-looking statements included in this press release speak only as of the date of this press release, represent management’s current reasonable expectations as of the date of this press release and are subject to the risks and uncertainties identified above as well as those described elsewhere in the 2025 Form 10-K and in other documents we file from time to time with the SEC. We cannot guarantee the accuracy of our forward-looking statements, and readers are urged to carefully review and consider the various disclosures made in the 2025 Form 10-K and in other documents we file from time to time with the SEC. All subsequent written and oral forward-looking statements attributable to Devon, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. We do not undertake, and expressly disclaim, any duty to update or revise our forward-looking statements based on new information, future events or otherwise.
BP zvažuje koupi aktiv Devon Energy v jižním Texasu, konkrétně v Eagle Ford, jako součást návratu k růstu amerických břidlicových aktiv. Odhady hodnoty se pohybují zhruba mezi 3,5 a 4 miliardami USD.
BP (BP.L) is weighing a potential acquisition of Devon Energy's (DVN.N) operations in South Texas as part of renewed efforts by the British supermajor to grow its shale asset base in the United States, people familiar with the matter said.
After years of prioritizing investments in renewable energy and leadership churn that included five chief executives since 2020, the London-headquartered company has reverted to a strategy that places its traditional oil and gas business at its heart.
In the wake of Meg O'Neill joining as CEO in April, BP has entered the data room on a small number of shale assets placed for sale by their owners, allowing the company access to confidential information provided to prospective buyers so they can evaluate the merits of a deal, according to six sources.
BP has been targeting predominantly oil producing assets, with valuations of between $2 billion and $5 billion, three of the sources said.
This includes Devon Energy's Eagle Ford asset, which opened its data room in late August, said three of the sources. Analysts at TPH, the energy arm of boutique bank Perella Weinberg Partners (PWP.O), said in a note on Wednesday the asset could be worth around $4.5 billion.
The sources cautioned that entering a data room does not guarantee that BP will buy, or even formally bid on, an asset. They also spoke on condition of anonymity to discuss private deliberations.
BP declined comment. Devon did not respond to a comment request.
BPX ENERGY
BP's US shale operations are held within its BPX Energy unit, with assets in the Eagle Ford, Permian and Haynesville basins spanning Texas and Louisiana. Production in the second quarter was around 545,000 barrels of oil equivalent per day (boepd), of which its existing Eagle Ford was approximately 205,000 boepd, according to an August presentation.
The company is targeting over 650,000 boepd from BPX by 2030, according to BP's website.
Despite its strategic pivot back to oil and gas, previously overseen by Albert Manifold before he was fired as chair and replaced on a permanent basis earlier this month by Ian Tyler, BP has spent the last 18 months focused on reducing debt and hitting a $20 billion divestment target.
While it has engaged in some acquisition activity in that time, including showing interest in buying a majority stake in the Shenandoah field in the US Gulf, BP had been largely absent from shale data rooms, making its re-emergence in recent weeks as a potential buyer notable, three of the sources said.
Buying assets near its existing footprint would be logical, four of the sources said, given the potential for cost savings and BP's familiarity with local geology.
Part of Devon's Eagle Ford asset was held in a joint venture between the company and BP until the partnership's dissolution in 2025.
DEVON DIVESTMENT
Devon is marketing for sale both its Eagle Ford and Powder River basin acreage in Wyoming, the sources said, as part of a portfolio review undertaken following its $58 billion merger with Coterra Energy. The Eagle Ford asset consists of around 90,000 net acres, and produced around 77,000 boepd in the second quarter, per Devon's website.
The effort comes as U.S. energy assets have increased allure to buyers, as they can operate even as Middle Eastern conflict shakes global oil markets. The tension pushed crude back above $100 per barrel last week, with higher prices of benefit to sellers.
Conversely, market volatility makes it harder for buyers and sellers to agree on valuations, as buyers want to avoid the perception of paying an inflated price. Dealmaking involving US production assets has slumped in recent months as a result.
This uncertainty is reflected in potential valuations for Devon's Eagle Ford. The TPH analysts marked it at $4.5 billion, but the sources pointed to a range between $3.5 billion and roughly $4 billion.
Devon is also facing pressure from activist shareholders TOMS Capital and Kimmeridge Energy Management to improve performance and shed assets.
Toms Capital vyzval Devon Energy, aby zvážila strategické alternativy včetně prodeje firmy. Fond tvrdí, že složité portfolio po fúzi s Coterra Energy tlačí na ocenění.
Activist hedge fund Toms Capital Management sent a letter earlier this month to Devon Energy urging the Houston-based oil and gas company to review strategic alternatives, including a sale.
Toms, which manages just over $4 billion in assets, says in the letter viewed by CNBC it is now one of Devon's top five shareholders. The hedge fund was outside of the ten biggest Devon holders as of the end of June, according to the latest filings.
Last May, Devon closed its merger with Coterra Energy, significantly increasing the size of the company's portfolio in the Delaware Basin, a key oil and gas producing sub-basin of the Permian in West Texas and Southeast New Mexico. The deal also brought together a portfolio than now includes the Marcellus, Eagle Ford and Powder River basins, amongst others.
Toms claims that combination of properties brings an undue level of complexity to the company and contribute to what is, in its view, a valuation discount to its peers of at least one multiple point, which is significant given the stock trades at roughly 4.5 times 2027 estimated EBITDA.
Devon has caused frustration among another one of its investors, the energy-focused investment firm Kimmeridge, which has publicly urged the company to streamline its property portfolio and articulate a post-Coterra merger strategy.
Devon, YTD
In meetings prior to sending its letter, Toms had encouraged a similar strategy and now is urging the company to sell itself. The fund asserted in its letter that a potential strategic buyer of the entire company could subsequently divest assets, shifting the execution risk of such sales away from Devon holders.
Alex Spiro joins campaignToms Capital is joined in its activist campaign by the noted litigator Alex Spiro, known for his successful track record of combat in the courtroom and advisory relationship with Elon musk and other notable figures.
Spiro and Toms both declined to comment beyond their letter.
Whether Toms, which has waged activist campaigns at companies such as Kenvue, Kellanova and Denbury, will succeed in pushing Devon to sale is far from clear. While major oil companies might have interest in Devon's core position in the Delaware basin, negotiating a transaction at present may be difficult given the volatility in oil prices.
Devon did not yet return a call for comment. Its advisors declined to comment.
Devon shares added about 3% in Wednesday's trading, bringing their 2026 gain to more than 31%.
AlphaGrep UK Ltd bought a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,557 shares of the energy company’s stock, valued at approximately $725,000.
Several other hedge funds also recently made changes to their positions in DVN. Tobam raised its stake in shares of Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock valued at $60,000 after acquiring an additional 230 shares during the period. Sigma Planning Corp raised its stake in Devon Energy by 3.5% during the second quarter. Sigma Planning Corp now owns 6,902 shares of the energy company’s stock valued at $285,000 after buying an additional 233 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Devon Energy by 3.4% during the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after buying an additional 236 shares during the last quarter. Retirement Planning Group LLC grew its position in shares of Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock worth $233,000 after acquiring an additional 243 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.
Insider Buying and Selling at Devon Energy In other news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.58% of the stock is owned by insiders.
Analysts Set New Price Targets DVN has been the subject of several recent research reports. Susquehanna boosted their target price on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group raised their target price on shares of Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Truist Financial increased their price target on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Barclays reduced their price objective on Devon Energy from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $59.23. View Our Latest Research Report on DVN
Trending Headlines about Devon Energy Here are the key news stories impacting Devon Energy this week:
Positive Sentiment: Seaport Global upgraded Devon to Buy, citing the company’s strong second-quarter 2026 results and continued operating potential. The company reported adjusted EPS of $1.57, above the $1.40 consensus estimate, while revenue of $7.42 billion significantly exceeded expectations and rose 73.1% year over year. Devon Energy stock gains on Seaport Global buy rating and strong Q2 2026 earnings Positive Sentiment: Options activity signals increased bullish interest. Traders purchased 47,557 Devon call options, approximately 21% above typical call volume. While options activity is not a fundamental indicator, the elevated call buying may support near-term momentum and suggests some traders are positioning for further gains. Positive Sentiment: Goldman Sachs continues to view Devon as an attractive energy dividend opportunity. Goldman highlighted Devon alongside other energy dividend stocks that may still offer upside despite the sector’s strong rally. Brent crude above $95 per barrel and continued strength in the energy sector provide a supportive backdrop for Devon’s oil and gas earnings and shareholder returns. Goldman’s Energy Dividend Picks: Why Devon and HF Sinclair Still Offer Upside Neutral Sentiment: Post-earnings momentum remains a focus for investors. Devon is up 16.5% since its latest earnings release, prompting analysis of whether earnings estimates can support additional gains. Its relatively low valuation, including a price-to-earnings ratio near 11, supports the value case, but the stock’s proximity to its 12-month high may limit immediate upside. Devon Energy up 16.5% since last earnings report Devon Energy Stock Down 1.5% DVN opened at $48.08 on Friday. The stock has a fifty day moving average of $44.79 and a 200-day moving average of $45.78. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The company has a market capitalization of $52.89 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.33 and a beta of 0.37.
Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period in the previous year, the firm posted $0.84 EPS. The firm’s revenue was up 73.1% on a year-over-year basis. On average, equities analysts expect that Devon Energy Corporation will post 5.24 EPS for the current year.
Devon Energy Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.
Devon Energy Profile (Free Report)
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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Devon Energy za poslední měsíc přidala asi 16,5 % po silných výsledcích za 2Q, kdy upravený zisk i tržby překonaly odhady. Firma zároveň zvýšila čtvrtletní fixní dividendu o 33 % na 32 centů na akcii.
It has been about a month since the last earnings report for Devon Energy (DVN - Free Report) . Shares have added about 16.5% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Devon Energy due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Devon Energy Corporation before we dive into how investors and analysts have reacted as of late.
Devon Q2 Earnings Surpass Estimates on Strong Oil Output and Pricing
Devon Energy Corporation reported second-quarter 2026 adjusted earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.30 by 20.77%.
GAAP earnings were $2.03 per share, up 44% from $1.41 a year ago.
Total RevenuesRevenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year. Strong oil pricing and contributions from the Coterra Energy merger supported the results.
Oil, gas and natural gas liquids sales totaled $5.11 billion compared with $2.71 billion in the year-ago quarter. Marketing and midstream revenues increased to $1.90 billion from $1.34 billion.
Oil, gas and NGL derivatives generated revenues of $414 million compared with $236 million a year earlier. The latest figure included $530 million of positive derivative valuation changes, partly offset by $116 million of cash settlement losses.
Devon’s Production PerformanceTotal production averaged 1,359 thousand barrels of oil equivalent per day (MBoe/d), up 61.6% year over year from 841,000 Boe/d. Devon completed its merger with Coterra on May 7, meaning the quarterly figures included combined operations for part of the period. The production level was 1.6% higher than the midpoint of management’s guidance.
Oil production rose 30% year over year to 503,000 barrels per day. NGL output climbed 41.4% to 314,000 barrels per day, while natural gas production increased to 3,252 million cubic feet per day from 1,388 million cubic feet. Better-than-expected well performance in the Delaware Basin supported oil and gas volumes.
DVN Benefits From Strong Oil RealizationsRealized oil prices, including cash settlements, were up 39.9% year over year to $88.09 per barrel from $62.97 in the prior-year quarter. Excluding hedges, oil realizations were $95.10 per barrel.
Realized NGL prices increased to $22.70 per barrel from $17.82. However, realized natural gas prices, including cash settlements, declined to $1.05 per thousand cubic feet from $1.56. Regional Waha pricing was pressured by infrastructure constraints in the Delaware Basin.
Devon Keeps Capital Spending DisciplinedCapital expenditures were $1.27 billion, 2% below the midpoint of management’s guidance. The company placed 120 net operated wells online during the quarter, with an average lateral length of 10,800 feet.
The Permian accounted for $731 million of capital spending, followed by $196 million in the Rockies. Eagle Ford, Anadarko and Marcellus expenditures were $97 million, $129 million and $70 million, respectively. Devon acquired 16,300 net Delaware Basin acres for $2.6 billion, adding approximately 400 top-tier locations.
DVN Generates Robust Free Cash FlowNet cash from operating activities was $3.67 billion compared with $1.55 billion a year ago. Adjusted operating cash flow was $2.9 billion, while adjusted free cash flow totaled roughly $1.7 billion, excluding after-tax restructuring costs.
Devon returned $1.06 billion through dividends, share repurchases and debt retirement. It repurchased 4.3 million shares for $197 million and paid $366 million in dividends. The quarterly fixed dividend was raised 33% to 32 cents per share.
Devon Provides GuidanceFor the third quarter of 2026, total production is expected between 1,660 MBoe/d and 1,690 MBoe/d. Oil production is projected in the range of 550,000-560,000 barrels per day. Third-quarter capital expenditures are anticipated between $1.4 billion and $1.5 billion.
Devon maintained its full-year guidance, calling for total production of 1,364 MBoe/d to 1,398 MBoe/d and capital spending of $4.8-$5 billion. 2026 Oil production is expected to be in the range of 495,000-505,000 barrels per day. Natural gas production for 2026 is expected to be in the range of 3,300-3,400 million cubic feet per day.
Management remains on track to achieve at least $1 billion in annual pre-tax merger synergies on a run-rate basis by the end of 2027.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 9.24% due to these changes.
VGM ScoresCurrently, Devon Energy has a great Growth Score of A, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Devon Energy has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerDevon Energy belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Range Resources (RRC - Free Report) , has gained 11.4% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Range Resources reported revenues of $795.3 million in the last reported quarter, representing a year-over-year change of +8.5%. EPS of $0.79 for the same period compares with $0.66 a year ago.
Range Resources is expected to post earnings of $0.67 per share for the current quarter, representing a year-over-year change of +17.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Range Resources. Also, the stock has a VGM Score of B.
Beacon Pointe Advisors LLC acquired a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,688 shares of the energy company’s stock, valued at approximately $1,435,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Kimmeridge Energy Management Company LLC boosted its holdings in shares of Devon Energy by 56.5% in the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares during the last quarter. LSV Asset Management boosted its position in shares of Devon Energy by 79.6% in the fourth quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock worth $29,289,000 after buying an additional 354,500 shares during the period. Morningstar Investment Management LLC acquired a new stake in Devon Energy in the fourth quarter valued at approximately $2,089,000. Illinois Municipal Retirement Fund grew its holdings in Devon Energy by 15.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after purchasing an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in shares of Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after acquiring an additional 80,000 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research report on Wednesday, June 10th. Morgan Stanley lowered their price target on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Raymond James Financial lowered their target price on Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price target on shares of Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. cut their price objective on Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $59.15.
Check Out Our Latest Analysis on DVN Devon Energy Price Performance Shares of DVN opened at $47.42 on Monday. The business’s 50-day moving average is $44.19 and its 200-day moving average is $45.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.30 and a beta of 0.38. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71.
Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm’s quarterly revenue was up 73.1% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Equities research analysts expect that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.
Devon Energy Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio is 30.40%.
Insider Activity In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.58% of the company’s stock.
Devon Energy Company Profile (Free Report)
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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WhiteWater a partneři v joint venture Solitude schválili konečné investiční rozhodnutí pro výstavbu dvou plynovodů z Permian Basin do Katy v Texasu. Projekt má počáteční kapacitu zhruba 2,25 Bcf/d na konci roku 2029.
, /PRNewswire/ -- WhiteWater today announced that it, together with Devon Energy Corporation (NYSE: DVN), MPLX LP (NYSE: MPLX), Diamondback Energy, Inc. (NASDAQ: FANG) and Western Midstream Partners, LP (NYSE: WES), through their Solitude Pipeline System joint venture ("Solitude"), have reached a positive Final Investment Decision ("FID") to construct two 48-inch natural gas pipelines, each running from the Permian Basin to Katy, TX. The project has secured substantial long-term firm transportation agreements with predominantly investment-grade shippers to support the FID.
Solitude will deliver scalable, long-haul natural gas transportation to support Permian Basin growth and expanding Gulf Coast consumption. The joint venture's pipeline system will feature a flexible, phased design that provides initial capacity of approximately 2.25 Bcf/d in late 2029, and an additional 2.25 Bcf/d in 2030 with the ability to increase capacity thereafter to accommodate shipper demand. Capacity commissioning can be accelerated or deferred to align with evolving market dynamics.
Solitude is expected to enter service in the second half of 2029, subject to receipt of customary regulatory and other approvals.
The joint venture is owned by WhiteWater (50.0%), Devon Energy (25.0%), MPLX (10.0%), Diamondback Energy (7.5%) and Western Midstream Partners (7.5%). I Squared Capital and FIC Partners Management, LP are partners in WhiteWater's Solitude investment.
About WhiteWater
WhiteWater is an Austin, Texas based infrastructure company and operator of multiple gas transmission assets. For more information about WhiteWater, visit www.wwdev.com.
About I Squared Capital
I Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing over $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 70 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.
About FIC
FIC Partners Management, LP ("FIC") is an investment firm with a focus on critical infrastructure assets across the energy and power use value chains. FIC focuses on investment opportunities that seek to generate long-term capital appreciation in the gas transmission, downstream, power and utilities, renewables, and data/telecommunications industries. FIC partners with management teams and businesses to help accelerate the development of strategic assets that serve society's growing energy needs and the associated decarbonization of industrial infrastructure. FIC is the renamed firm following the merger of Emerald Bridge Capital, LP and First Infrastructure Capital Advisors, LLC. For more information about FIC, please visit www.FICfund.com.
About Devon
Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio with assets in the Anadarko Basin, Eagle Ford, Marcellus Shale, Powder River Basin, Williston Basin, anchored by a world-class position in the Delaware Basin. Devon's disciplined cash-return business model is designed to achieve strong returns, generate resilient free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
About MPLX
MPLX LP (NYSE: MPLX) is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.mplx.com.
About Diamondback
Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas.
About Western Midstream
Western Midstream Partners, LP ("WES") is a master limited partnership formed to develop, acquire, own, and operate midstream assets. With midstream assets located in Texas, New Mexico, Colorado, Utah, and Wyoming, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, natural-gas liquids, and crude oil; and gathering, transporting, recycling, treating, and disposing of produced water for its customers. In its capacity as a natural-gas processor, WES also buys and sells residue, natural-gas liquids, and condensate on behalf of itself and its customers under certain gas processing contracts. A substantial majority of WES's cash flows are protected from direct exposure to commodity-price volatility through fee-based contracts.
For more information about WES, please visit www.westernmidstream.com.
Assenagon Asset Management S.A. lifted its stake in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 37.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,690 shares of the energy company’s stock after buying an additional 33,113 shares during the period. Assenagon Asset Management S.A.’s holdings in Devon Energy were worth $5,028,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in Devon Energy by 2,108.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after acquiring an additional 6,097,658 shares during the last quarter. Panagora Asset Management Inc. raised its position in Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC boosted its stake in shares of Devon Energy by 56.5% during the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Devon Energy by 92.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company’s stock worth $260,692,000 after purchasing an additional 2,485,603 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.
Analysts Set New Price Targets Several research analysts have recently issued reports on the company. Zacks Research downgraded Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Susquehanna boosted their target price on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Finally, Barclays raised their price target on shares of Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.60.
View Our Latest Report on DVN
Devon Energy Stock Down 1.2% Shares of Devon Energy stock opened at $44.87 on Thursday. The stock’s 50-day moving average is $43.40 and its 200 day moving average is $45.09. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 10.66 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.
Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company’s revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. Equities research analysts anticipate that Devon Energy Corporation will post 4.91 EPS for the current year.
Devon Energy Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.
Insider Activity In related news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.58% of the stock is owned by insiders.
Devon Energy Profile (Free Report)
Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
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Devon Energy ve 2. čtvrtletí překonala cíle, když vykázala upravený volný peněžní tok 1,7 mld. USD a splnila i překonala plán těžby i kapitálových výdajů. Zároveň dokončila svůj cíl snížení dluhu o 1,25 mld. USD pro rok 2026.
From High-Yield to High-Growth: 3 Stocks Boosting DividendsDevon Energy NYSE: DVN said second-quarter execution exceeded its guidance targets as the company advanced integration work following its May 7 merger with Coterra, identified more than 350 synergy initiatives and completed its 2026 debt-reduction target.
Second-quarter results included legacy Devon operations for the full period and Coterra operations beginning May 7. President and Chief Executive Officer Clay Gaspar said the company generated $1.7 billion in adjusted free cash flow while exceeding guidance for oil production, total production and capital spending.
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Devon Energy Bets on Scale With Coterra Acquisition“We outperformed our second quarter guidance across the key value drivers,” Gaspar said. “That execution translated into a $1.7 billion adjusted free cash flow.”
Production, costs and capital spending beat guidance Chief Financial Officer Shane Young said oil production averaged 503,000 barrels per day, or 1.6% above the midpoint of guidance. Total production reached 1.36 million barrels of oil equivalent per day, at the top end of the company’s forecast range.
3 Dividend Stocks Offering Higher Yields and Bullish ForecastsTotal operating costs, including gathering, processing and transportation expenses, were $8.23 per barrel of oil equivalent, 2% better than the midpoint of guidance. Capital expenditures totaled $1.3 billion, 2.4% below the midpoint, Young said.
Gaspar said the company’s reinvestment rate improved to 43% of cash flow, compared with rates in the mid-50% range over the preceding two years. He attributed the performance to well productivity and drilling and completion efficiencies.
Following first-half execution, Devon tightened its full-year 2026 oil-production guidance to 495,000 to 505,000 barrels per day. The company expects total volumes of about 1.4 million barrels of oil equivalent per day and full-year capital spending of $4.8 billion to $5 billion.
For the third quarter, Devon forecast oil production of 550,000 to 560,000 barrels per day, total production of 1.66 million to 1.69 million barrels of oil equivalent per day, and capital spending of $1.4 billion to $1.5 billion. Young said the quarter should be the company’s highest-capital quarter of 2026, reflecting a full quarter of combined operations and some spending that shifted from the second quarter. Capital spending is expected to decline in the fourth quarter as activity decreases in the Marcellus, Anadarko and Powder areas.
Merger integration and shareholder returns Gaspar said Devon is confident it can achieve at least $1 billion in annual synergies by year-end 2027. The company has identified more than 350 initiatives across capital optimization, operating margins and corporate costs.
The capital initiatives include lower drilling and completion costs, supply-chain benefits and reallocating 2027 spending toward more efficient uses. Operational plans include consolidating field activities, leveraging infrastructure and improving gathering, processing, transportation and revenue deductions. Corporate initiatives include eliminating redundancies and lowering the cost of capital.
Young said Devon returned more than $1 billion during the second quarter through dividends, share repurchases and debt reduction. The company paid a quarterly dividend of $0.32 per share, up 33% from the first quarter, totaling $366 million. It also repurchased 4.3 million shares during the final seven weeks of the quarter after buybacks resumed following the merger closing.
Devon retired $250 million of senior notes and $250 million of term-loan debt during the quarter. In July, it retired the remaining $750 million of its term loan scheduled to mature in the third quarter. The company said it has now completed its $1.25 billion debt-reduction target for 2026. It ended the quarter with $4 billion in liquidity, including $1 billion of cash. Devon’s remaining repurchase authorization was $7.8 billion, which Young said would be deployed through a combination of systematic and opportunistic repurchases. The company is targeting approximately $9 billion of total debt by year-end 2027, a level it said is achievable largely through maturities occurring during 2027.
Permian lease sale adds inventory Devon highlighted its acquisition of federal acreage in New Mexico’s Delaware Basin, which it said added approximately 400 premium drilling locations. Gaspar said the headline acquisition cost was $6.5 million per location, but the acreage’s 12.5% federal royalty rate—roughly half the typical royalty burden for state and private acreage—provided an estimated $2.5 million per-location benefit. That implied an effective cost of roughly $4 million per location, he said.
The acreage was undeveloped and adjacent to Devon’s existing footprint, according to Gaspar. He said the location could support longer laterals and benefit from the company’s existing water, gas-gathering and electrical infrastructure. Devon is already filing permits and expects the acreage to play a meaningful role in its 2027 program.
Gaspar said the federal lease sale was the last Delaware Basin federal sale of that scale. Going forward, the company expects to focus on acreage trades and smaller bolt-on acquisitions.
Technology and portfolio review remain priorities Management described technology as a key component of its operational and integration strategy. Gaspar said Devon’s closed-loop artificial intelligence system is autonomously optimizing 1,000 wells in real time, with broader deployment planned. The company is also using proprietary subsurface models to predict well performance and optimize spacing and completion designs.
Devon reported that its first 10 surfactant trial wells across six landing zones showed improved recovery versus offset control wells. John Raines, executive vice president of exploration and production for the Permian, said 90% of the trial wells showed material uplift and the company observed more than 15% uplift at 180 days. Devon plans to expand the completion-phase testing program to more than 50 wells this year.
The company is also conducting surfactant work during the production phase of wells in the Delaware Basin, with plans to scale that activity to about 20 jobs per month and evaluate expansion to the Williston Basin by year-end.
Meanwhile, Devon’s portfolio review remains underway. Gaspar said each asset is being evaluated on capital efficiency, free-cash-flow durability, market value and strategic fit within a Permian-centric business. He expects an update this fall and said the review would be measured in months rather than years.
On potential sale proceeds, Young said Devon would first address associated tax obligations and then assess the effect of any divestiture on cash flow, credit capacity and its debt target. He said possible uses could include debt reduction, opportunistic repurchases, dividend support or, for a sufficiently large transaction, an accelerated share-repurchase program.
About Devon Energy (NYSE:DVN)Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.
Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Devon Energy (DVN - Free Report) reported $7.42 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 73.1%. EPS of $1.57 for the same period compares to $0.84 a year ago.
The reported revenue represents a surprise of +17.76% over the Zacks Consensus Estimate of $6.3 billion. With the consensus EPS estimate being $1.30, the EPS surprise was +20.77%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Devon Energy performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production - Oil - Total: 503 millions of barrels of oil versus 495.17 millions of barrels of oil estimated by seven analysts on average.Production - Gas - Total: 3252 millions of cubic feet compared to the 2928.31 millions of cubic feet average estimate based on seven analysts.Production - Total oil equivalent per day: 1359 millions of barrels of oil equivalent per day compared to the 1335.6 millions of barrels of oil equivalent per day average estimate based on seven analysts.Production - Natural gas liquids - Total: 314 millions of barrels of oil versus 308.4 millions of barrels of oil estimated by six analysts on average.Realized Prices - Oil (Realized price, including cash settlements): $88.09 versus the four-analyst average estimate of $86.14.Realized Prices - Gas (Realized price, including cash settlements): $1.05 versus the four-analyst average estimate of $0.98.Revenues- Marketing and midstream revenues: $1.9 billion compared to the $1.91 billion average estimate based on four analysts. The reported number represents a change of +41.8% year over year.Revenues- Gas: $104 million versus $250.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -41.6% change.Revenues- Oil: $4.35 billion versus the three-analyst average estimate of $3.89 billion. The reported number represents a year-over-year change of +100.3%.Revenues- NGL: $648 million versus the three-analyst average estimate of $579.77 million. The reported number represents a year-over-year change of +81%.Revenues- Oil, gas and NGL derivatives: $414 million versus $-292.48 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +75.4% change.Revenues- Oil, gas and NGL sales: $5.11 billion versus $4.66 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +88.4% change.View all Key Company Metrics for Devon Energy here>>>
Shares of Devon Energy have returned -2.8% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Devon Energy zpřesnila celoroční produkční výhled na 495 000 až 505 000 barelů denně a cílí na nejméně 1 miliardu USD ročních předzdaněných synergií z fúze do konce roku 2027.
Key Takeaways Devon Energy tightened 2026 oil guidance while keeping output near 1.4 million Boe per day.Devon targets at least $1 billion in annual pre-tax merger synergies by year-end 2027.Devon's portfolio review weighs asset value, market value and strategic fit, with an update due this fall. Devon Energy Corporation (DVN - Free Report) emphasized merger integration, tighter execution and a portfolio review on its second-quarter 2026 earnings call. Management addressed post-merger strategic concerns.
The message was disciplined urgency: deliver synergies, clarify the asset base and raise shareholder returns without disrupting operations.
DVN Tightens the 2026 Production RangeAdjusted earnings of $1.57 per share topped the Zacks Consensus Estimate of $1.30. Revenues of $7.42 billion exceeded the $6.30 billion consensus mark.
Executive vice president and CFO Shannon Young said full-year oil guidance was tightened to 495,000-505,000 barrels per day. Total production remains roughly 1.4 million Boe per day, with capital spending of $4.8-$5 billion.
Young expects third-quarter oil production of 550,000-560,000 barrels per day, total volumes of 1.66-1.69 million Boe per day and capital of $1.4-$1.5 billion. Fourth-quarter oil should be similar or higher as spending declines.
Devon Raises Confidence in Merger SynergiesPresident, CEO and director Clay Gaspar said Devon remains on track for at least $1 billion of annual pre-tax run-rate synergies by year-end 2027, with about $600 million expected during 2027. More than 350 initiatives cover capital, margins and corporate costs.
Executive vice president of Operations Blake Sirgo said Delaware well costs near $800 per foot reflect a nine- to 12-month lag. Supply-chain changes, simul-frac use, longer laterals and AI benchmarking are not fully embedded.
A Raymond James analyst pressed management on upside. Gaspar said gross opportunity is well above $1 billion, but Devon will hold the target until savings flow through reported financials.
DVN Defends the Federal Lease AcquisitionCEO Clay Gaspar defended the $2.6 billion New Mexico federal lease purchase, adding about 400 Delaware Basin locations. He said the 12.5% royalty burden creates roughly $2.5 million of value per location, reducing effective cost from $6.5 million to about $4 million.
A Goldman Sachs analyst asked about development timing. Gaspar acknowledged Devon's communication fell short, then described the locations as top-quartile to top-decile opportunities.
Gaspar said permitting is underway and the acreage will contribute to the 2027 program. Adjacency to Devon's footprint, longer-lateral potential and infrastructure support the development case.
Devon Keeps Portfolio Decisions CloseGaspar said the portfolio review evaluates each asset through three lenses: value to Devon, market value and strategic fit with a Permian-centered business. Management expects an update this fall and has framed the process in months, not years.
A Wolfe Research analyst asked about asset-sale proceeds. CFO Young said net proceeds could affect the $9 billion year-end 2027 debt target, while buybacks, temporary dividend additions or accelerated repurchases remain options.
A Truist analyst challenged management on post-merger stock underperformance. Gaspar acknowledged investors want clearer direction but said Devon will not rush decisions or discuss rumors before completing its value-focused review.
DVN Scales AI and Recovery TechnologyExecutive vice president and chief technology officer Robert Lowe said closed-loop AI autonomously optimizes 1,000 wells. Devon has more than 2,000 additional Permian wells available for deployment and is extending the system to legacy Coterra assets.
John Raines, executive vice president of exploration and production for the Permian, said 90% of completion-phase surfactant trials produced material uplift, while results showed more than 15% uplift at 180 days. Devon plans more than 50 tests and targets 20 production-phase jobs monthly.
CEO Gaspar positioned technology as the link across operating gains and merger savings. He linked it to better recovery, lower drilling and completion costs and a path toward reducing the corporate decline rate.
Devon Stays Focused on Speed and DisciplineGaspar's closing posture centered on rapid synergy delivery, portfolio action, a capital-efficient 2027 plan and increased share repurchases after completing the 2026 debt-reduction goal.
Gaspar emphasized transparency on savings while withholding asset-specific signals. Initial 2027 views are scheduled for November, providing an outline of the combined company's capital plan.
DVN's Zacks Rank and Style ScoresDVN carries a Zacks Rank #3 (Hold). Its Value Score of A and Growth Score of B are favorable, while the Momentum Score of F is unfavorable. The VGM Score of B is favorable overall. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Style Scores complement the Rank, with the strongest combinations pairing a Zacks Rank #1 or #2 (Buy) with A or B scores. A Zacks Rank #3 can support holding, and the Rank can change as estimates are revised after the results.
August 04, 2026 16:05 ET | Source: Devon Energy Corporation
HOUSTON, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the second-quarter 2026. The company also provided a third-quarter 2026 outlook. Devon’s earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com.
The company’s second-quarter conference call will be held at 10:00 a.m. Central time (11:00 a.m. Eastern time) on Wednesday, August 5, 2026, and will serve primarily as a forum for analyst and investor questions and answers.
ABOUT DEVON ENERGY
Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
Key Takeaways Devon Energy is expected to post Q2 EPS of $1.30 on revenues of $6.3 billion.The Coterra merger is projected to lift Q2 production to 1.315-1.36 million boe/d.Debt reduction, hedging, cost discipline and buybacks may support Devon Energy's quarterly earnings. Devon Energy Corporation (DVN - Free Report) is scheduled to release second-quarter 2026 results on Aug 4, after market close. The Zacks Consensus Estimate for earnings is currently pegged at $1.30 per share on revenues of $6.3 billion.
The bottom-line projection indicates a 54.76% increase from the year-ago number. The Zacks Consensus Estimate for quarterly revenues indicates a year-over-year increase of 47.02%.
Image Source: Zacks Investment Research
DVN Stock’s Earnings Surprise HistoryDevon Energy’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 4.57%.
What the Zacks Model UnveilsOur proven model predicts a likely earnings beat for Devon Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
DVN’s Earnings ESP: Devon Energy has an Earnings ESP of +0.61%.
Zacks Rank of DVN: The company currently carries a Zacks Rank #3.
Some companies in the same sector also have the right combination of the two factors for an earnings beat this season are Calumet, Inc. (CLMT - Free Report) , Western Midstream Partners (WES - Free Report) and National Energy Services Reunited Corp. (NESR - Free Report) . CLMT, WES and NESR have an Earnings ESP of +169.57%, +0.33% and +7.80%, respectively. CLMT and WES currently carry a Zacks Rank #2 each, and NESR sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Have Shaped DVN Stock’s Q2 EarningsDevon Energy completed the merger with Coterra Energy on May 7, 2026, projecting combined second-quarter production between 1.315 million and 1.36 million barrels of oil equivalent per day (boe/d) compared with initial standalone production volumes in the range of 851,000-868,000 Boe per day. It is evident that the Coterra Energy acquisition will boost Devon's second-quarter production volumes. Devon, by sharing best practices with Coterra Energy, will also enjoy benefits from operating margin improvements and corporate cost reduction.
DVN’s second-quarter earnings are likely to have benefited from ongoing debt reduction initiatives. Systematic hedging, which safeguards the company from price fluctuations, will also likely be a tailwind.
Devon Energy’s disciplined cost management has helped keep operating expenses under control. Strong cash flow generation has also supported its share repurchase program, potentially providing an additional boost to quarterly earnings. Furthermore, the company’s U.S.-focused operations limit its exposure to geopolitical and regulatory uncertainties, which may have benefited its second-quarter performance.
DVN Stock’s Price PerformanceDVN shares have gained 33% in the past year compared with the Zacks Oil and Gas Exploration and Production – United States industry’s rise of 11.1%.
Image Source: Zacks Investment Research
Devon Energy’s Shares Trading at a PremiumThe company is currently valued at a discount compared with its industry on a forward 12-month cash flow. Devon Energy is trading at 4.25X compared with its industry’s 9.65X.
Devon Energy čeká za čtvrtletí zisk 1,30 USD na akcii, což je meziročně o 54,8 % více, při tržbách 6,3 miliardy USD. Konsensus navíc naznačuje, že firma může odhady překonat.
Devon Energy (DVN - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 4. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis oil and gas exploration company is expected to post quarterly earnings of $1.30 per share in its upcoming report, which represents a year-over-year change of +54.8%.
Revenues are expected to be $6.3 billion, up 47% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 9.03% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Devon Energy?For Devon Energy, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.61%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Devon Energy will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Devon Energy would post earnings of $1 per share when it actually produced earnings of $1.04, delivering a surprise of +4.00%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Devon Energy appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerVitesse Energy (VTS - Free Report) , another stock in the Zacks Oil and Gas - Exploration and Production - United States industry, is expected to report earnings per share of $0.06 for the quarter ended June 2026. This estimate points to a year-over-year change of -90%. Revenues for the quarter are expected to be $90.9 million, up 11.2% from the year-ago quarter.
The consensus EPS estimate for Vitesse has been revised 22.2% lower over the last 30 days to the current level. However, an equal Most Accurate Estimate has resulted in an Earnings ESP of 0.00%.
This Earnings ESP, combined with its Zacks Rank #5 (Strong Sell), makes it difficult to conclusively predict that Vitesse will beat the consensus EPS estimate. Over the last four quarters, the company surpassed EPS estimates just once.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Devon Energy zvažuje prodej břidlicových aktiv Eagle Ford a Powder River za více než 4 miliardy USD. Firma je chce odprodat kvůli tlaku investorů na soustředění na Permian Basin.
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford - TM3EB9F0WO901 Purchase Licensing Rights, opens new tab
CompaniesJuly 24 (Reuters) - U.S. oil and gas producer Devon Energy (DVN.N), opens new tab is weighing a potential sale of its Eagle Ford and Powder River shale assets that could fetch more than $4 billion, Bloomberg News reported on Friday, citing people familiar with the matter.
The potential divestment comes amid continued investor pressure on Devon to streamline its portfolio and focus on its core Permian Basin operations following its recent merger with Coterra Energy, with some shareholders urging faster asset sales.
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The report said Devon is expected to outline a strategic review of the assets when it reports earnings in early August, though it could still opt to retain the properties and no final decision has been made.
The assets are located in South Texas and Wyoming, respectively, and are considered non-core to Devon's Permian-focused strategy, the report said.
US shale producers have been selling assets to pay down debt following a consolidation wave totaling more than $450 billion in deals since the start of 2023, according to the report.
Devon Energy did not immediately respond to Reuters request for comment.
Reporting by Varun Sahay in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Devon Energy prodala nepřímo 1 755 174 akcií třídy A společnosti WaterBridge Infrastructure za zhruba 52,7 milionu USD. I po prodeji si přes dceřinou strukturu ponechává 16 002 051 akcií třídy B a stejný počet jednotek.
On June 22, 2026, Devon Energy Corp, a 10% owner, reported the indirect sale of 1,755,174 Class A shares of WaterBridge Infrastructure LLC (WBI +2.34%) for a transaction value of approximately $52.7 million, as disclosed in a SEC Form 4 filing.
Transaction summaryMetricValueShares sold (indirect)1,755,174Transaction value$52.7 millionTransaction value based on SEC Form 4 weighted average purchase price ($30.05).
Key questionsWhat was the mechanism behind the Class A share sale?
The shares sold originated from the redemption of 1,755,174 WBI Operating LLC units and the cancellation of an equal number of Class B shares, which were converted into Class A shares immediately prior to the open-market sale pursuant to Rule 144.Did this transaction affect any direct holdings?
No direct holdings were involved; all shares sold were held indirectly through Devon Holdco, a wholly owned subsidiary structure under Devon Energy.Does the insider retain a continuing economic interest in WaterBridge Infrastructure LLC?
Yes, Devon Holdco continues to hold 16,002,051 Class B shares and an equivalent number of WBI Operating LLC units, which are convertible into Class A shares on a one-for-one basis, preserving substantial potential ownership.How does the size of this sale relate to prior activity and remaining capacity?
This sale comprised 100.00% of Devon Holdco's indirect Class A position; future liquidity events will depend on conversions from the remaining Class B/OpCo units, as Class A holdings have been fully sold in this filing.Company overviewMetricValueMarket capitalization$1.46 billionRevenue (TTM)$628.62 millionNet income (TTM)$13.7 millionPrice (as of market close 2026-06-22)$30.05Company snapshotWaterBridge Infrastructure provides comprehensive water resource management services for upstream oil and gas operators, including water gathering, transportation, reclamation, and disposal.The firm operates a fee-based model leveraging a network of water infrastructure assets primarily in the Delaware Basin, with additional presence in the Eagle Ford and Arkoma regions.It serves exploration and production companies in the oil and gas sector, focusing on clients with significant water management needs in major U.S. shale plays.WaterBridge Infrastructure LLC specializes in water logistics and lifecycle management for the energy sector, supporting oil and gas producers through a dedicated infrastructure footprint in key shale basins. The company's scale and integrated service offerings enable efficient, compliant water handling solutions for its customers. Strategic positioning in high-activity regions provides a competitive advantage in serving the evolving needs of upstream energy clients.
What this transaction means for investorsWhile Devon Energy monetized a sizable stake worth roughly $52.7 million, the transaction represented a conversion of operating units into Class A shares before the sale, and the company continues to own 16 million Class B shares and an equal number of operating units that remain convertible into Class A stock. In other words, Devon still has significant economic exposure to WaterBridge.
Operationally, WaterBridge continues to build momentum. The company recently raised its full-year guidance for produced water handling volumes to 2.525 million to 2.725 million barrels per day and increased its Adjusted EBITDA outlook to $425 million to $465 million after reporting first quarter revenue of $201 million and Adjusted EBITDA of $102.9 million. Management said stronger customer demand and a more supportive backdrop for exploration and production activity gave it confidence to lift guidance. CEO Jason Long said the company's opportunities "are as compelling as they have ever been," while CFO Scott McNeely pointed to strengthening commercial demand across the Delaware Basin.
The company also recently announced plans to join several Alerian energy indexes and formed a special committee to evaluate converting from an LLC to a Texas corporation, a move management believes could broaden its investor base and improve liquidity over time.
For long-term investors, Devon's sale does not materially change the ownership picture. The bigger questions remain whether WaterBridge can execute on its higher guidance, expand its infrastructure network, and capitalize on growing demand for produced water management.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
