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DVN $30.77

DVN target price
30.77
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98
Devon Energy Corporation
Type
Public company
Traded as NYSE: DVN
S&P 500 Index component
Industry Petroleum industry
Founded 1971; 46 years ago (1971)
Founder John Nichols
Headquarters Devon Energy Center
Oklahoma City, Oklahoma
Key people
J. Larry Nichols, Executive Chairman
David A. Hager, CEO
THOMAS L. MITCHELL, CFO
Products Petroleum
Natural Gas
Natural Gas Liquids
Production output
568 thousand barrels of oil equivalent (3,470,000 GJ) per day from retained assets
Revenue Decrease $12.197 billion (2016)
Operating income
Increase -$2.895 billion (2016)
Net income
Increase -$3.302 billion (2016)
Total assets Decrease $25.913 billion (2016)
Total equity Decrease $10.375 billion (2016)
Number of employees
5,000, including 1,500 employed by EnLink (2015)
Website www.devonenergy.com

Devon Energy Corporation is an American independent natural gas, natural gas liquids, and petroleum exploration company focused on onshore exploration and production in North America. The company is headquartered in the 50-story Devon Energy Center, completed in 2012, in Oklahoma City, Oklahoma.

The company ranks 231st on the Fortune 500.

As of December 31, 2016, the company had 2,058 billion barrels of oil equivalent in total proved reserves.

Devon is one of the largest energy producers in the Barnett Shale, where it controls 600,000 acres.

Devon was founded in 1971 by John Nichols and his son, J. Larry Nichols.

In 1988, the company became a public company via an initial public offering.

In August 2000, the company was added to the S&P 500 Index.

In August 2008, the founder, John Nichols, died.

In March 2010, the company sold assets in Brazil, Azerbaijan, and the Gulf of Mexico to BP for $7 billion.

In October 2012, the company completed construction of its current headquarters, the 50-story Devon Energy Center in Oklahoma City, Oklahoma and closed its office in the Allen Center in Downtown Houston.

In April 2014, the company sold its conventional assets in Canada to Canadian Natural Resources for C$3.125 billion.

In August 2015, Dave Hager was named President and chief executive officer of the company.

In February 2016, Devon announced plans to lay off 1,000 employees, including 700 in Oklahoma City, and cut its dividend as part of a cost-cutting effort due to low prices of its products.

In 2017, the company sold its Lavaca County assets in the Eagle Ford.

Shareholders have introduced several resolutions that would require the company to monitor its effect on climate change and to disclose its lobbying activity against regulations to prevent climate change.

In 2014, an investigation by The New York Times uncovered that a three-page letter from Oklahoma's Attorney General Scott Pruitt to the United States Environmental Protection Agency, bluntly accusing regulators of grossly overestimating the amount of air pollution caused by drilling of new natural gas wells, was actually written by an attorney for Devon. The investigation found that "attorneys general in at least a dozen states are working with energy companies and other corporate interests, which in turn are providing them with record amounts of money for their political campaigns, including at least $16 million this year."

In the third quarter of 2014, just before the midterm elections, Nichols made a $136,000 contribution to the Republican "Targeted State Victory" committee.

In 2015, Nichols agreed to lead the energy steering committee of Florida Senator Marco Rubio and made a $50,000 contribution to the super PAC supporting Rubio. Nichols stated that "excessive regulation squashes" energy innovation.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2023-02-14 Future report Set alerts
Q3 2022 2022-11-01 2.18 2.18
Q2 2022 2022-08-01 2.59 2.59
Q1 2022 2022-05-02 1.88 1.88
Q4 2021 2022-02-15 1.39 1.39
Q3 2021 2021-11-02 1.08 1.08
Q2 2021 2021-08-03 0.60 0.60
Q1 2021 2021-05-04 0.45 0.45
Q4 2020 2021-02-16 0.00 0.00
Q3 2020 2020-10-29 -0.04 -0.04

Ratings

2016-07-11 Upgrade Howard Weil Sector Outperform to Focus Stock $50.00 to $61.00
2016-07-11 Reiterated Rating Scotiabank Outperform to Focus Stock $50.00 to $61.00
2016-07-07 Reiterated Rating Piper Jaffray Cos. Neutral $39.00 to $41.00
2016-07-07 Reiterated Rating Simmons Neutral $39.00 to $41.00
2016-07-05 Boost Price Target Deutsche Bank AG Buy $41.00 to $45.00
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-29 Reiterated Rating Morgan Stanley Overweight
2016-06-22 Initiated Coverage Credit Agricole Outperform
2016-06-22 Initiated Coverage Credit Agricole SA Outperform
2016-06-16 Boost Price Target Wunderlich Buy $40.00 to $41.00
2016-06-16 Reiterated Rating Bank of America Buy
2016-06-16 Reiterated Rating Bank of America Corp. Buy
2016-06-13 Reiterated Rating BMO Capital Markets Buy $35.00 to $40.00
2016-06-07 Reiterated Rating Bank of America Buy $50.00
2016-05-26 Reiterated Rating Barclays Buy
2016-05-26 Reiterated Rating Barclays PLC Buy
2016-05-24 Boost Price Target Barclays Overweight $34.00 to $38.00
2016-05-19 Upgrade Johnson Rice Hold to Accumulate
2016-05-12 Reiterated Rating Stephens Hold
2016-05-05 Boost Price Target Sanford C. Bernstein Outperform $37.00 to $38.00
2016-05-05 Boost Price Target Credit Suisse Outperform $37.00 to $40.00
2016-05-05 Boost Price Target Barclays Overweight $26.00 to $34.00
2016-05-05 Boost Price Target Credit Suisse Group AG Outperform $37.00 to $40.00
2016-05-04 Boost Price Target RBC Capital Outperform $36.00 to $41.00
2016-05-04 Boost Price Target JPMorgan Chase & Co. Overweight $32.00 to $38.00
2016-05-04 Reiterated Rating Citigroup Inc. Buy
2016-05-04 Boost Price Target Royal Bank Of Canada Outperform $36.00 to $41.00
2016-04-27 Initiated Coverage Wunderlich Buy $40.00
2016-04-25 Reiterated Rating Simmons Hold $31.00 to $36.00
2016-04-21 Reiterated Rating Deutsche Bank Buy $32.00 to $41.00
2016-04-21 Reiterated Rating Deutsche Bank AG Buy $32.00 to $41.00
2016-04-19 Upgrade Morgan Stanley Equal Weight to Overweight $26.00 to $36.00
2016-04-15 Upgrade Evercore ISI Hold to Buy $30.00 to $40.00
2016-04-12 Reiterated Rating Sanford C. Bernstein Outperform
2016-04-07 Boost Price Target Citigroup Inc. Buy $30.00 to $32.00
2016-03-29 Lower Price Target Deutsche Bank Buy $48.00 to $32.00
2016-03-12 Reiterated Rating Deutsche Bank Buy
2016-03-08 Lower Price Target Iberia Capital Sector Perform $45.00 to $30.00
2016-02-22 Lower Price Target Susquehanna $37.00 to $30.00
2016-02-20 Reiterated Rating Barclays Buy
2016-02-19 Lower Price Target Barclays Overweight $27.00 to $26.00
2016-02-18 Lower Price Target Credit Suisse Outperform $37.00
2016-02-18 Lower Price Target RBC Capital Outperform $50.00 to $35.00
2016-02-18 Lower Price Target Macquarie Outperform $52.00 to $29.00
2016-02-18 Downgrade Wolfe Research Outperform to Market Perform
2016-02-18 Lower Price Target Guggenheim Buy $57.00 to $39.00
2016-02-18 Lower Price Target Goldman Sachs Neutral $39.00 to $34.00
2016-02-18 Lower Price Target Cowen and Company Outperform $46.00 to $34.00
2016-02-18 Lower Price Target Goldman Sachs Group Inc. Neutral $39.00 to $34.00
2016-02-17 Reiterated Rating Deutsche Bank Buy $48.00
2016-02-17 Upgrade Mitsubishi UFJ Financial Group Underweight to Neutral
2016-02-09 Reiterated Rating Sanford C. Bernstein Outperform
2016-02-02 Lower Price Target JPMorgan Chase & Co. Overweight $42.00 to $33.00
2016-02-02 Initiated Coverage Stephens Equal Weight $30.00
2016-02-01 Lower Price Target Jefferies Group Buy $32.00
2016-01-29 Upgrade Mitsubishi UFJ Financial Group Underweight to Neutral $37.00
2016-01-28 Lower Price Target Barclays Overweight $36.00 to $27.00
2016-01-26 Lower Price Target Susquehanna Positive $45.00 to $37.00
2016-01-26 Initiated Coverage Citigroup Inc. Buy $45.00
2016-01-25 Upgrade Tudor Pickering Accumulate to Buy
2016-01-21 Lower Price Target Nomura Neutral $49.00 to $32.00
2016-01-21 Lower Price Target Nomura Holdings Inc. Neutral $49.00 to $32.00
2016-01-19 Lower Price Target KLR Group $67.00 to $56.00
2016-01-13 Downgrade Seaport Global Securities Accumulate to Neutral $58.00 to $30.00
2016-01-11 Upgrade Barclays Equal Weight to Overweight $49.00 to $36.00
2016-01-08 Reiterated Rating JPMorgan Chase & Co. Buy
2016-01-07 Lower Price Target JPMorgan Chase & Co. Overweight $46.00 to $42.00
2016-01-07 Lower Price Target Deutsche Bank Buy $60.00 to $48.00
2015-12-10 Reiterated Rating JPMorgan Chase & Co. Buy
2015-12-10 Reiterated Rating RBC Capital Buy
2015-12-09 Reiterated Rating Deutsche Bank Buy
2015-12-09 Lower Price Target RBC Capital Outperform $66.00 to $64.00
2015-12-09 Initiated Coverage JPMorgan Chase & Co. Overweight $46.00
2015-12-08 Lower Price Target Barclays Equal Weight $52.00 to $49.00
2015-12-08 Reiterated Rating Mitsubishi UFJ Financial Group Inc Underweight
2015-12-08 Reiterated Rating Mitsubishi UFJ Financial Group Inc. Underweight
2015-12-02 Lower Price Target Jefferies Group Buy $55.00
2015-12-01 Reiterated Rating Guggenheim Buy
2015-11-12 Upgrade Guggenheim Neutral to Buy $45.62 to $57.00
2015-11-06 Boost Price Target Barclays Equal Weight $44.00 to $52.00
2015-10-22 Reiterated Rating Jefferies Group Buy
2015-10-19 Reiterated Rating Seaport Global Securities Accumulate
2015-10-15 Lower Price Target KLR Group $79.00 to $67.00
2015-10-07 Lower Price Target BMO Capital Markets $55.00 to $50.00
2015-10-01 Upgrade Sanford C. Bernstein Market Perform to Outperform $63.00 to $58.00
2015-09-17 Reiterated Rating Argus Buy $76.00 to $64.00
2015-09-15 Lower Price Target Cowen and Company Outperform $80.00 to $56.00
2015-09-14 Lower Price Target Citigroup Inc. Buy $72.00 to $58.00
2015-09-11 Lower Price Target Jefferies Group $62.00
2015-09-09 Reiterated Rating Deutsche Bank Buy $60.00
2015-09-08 Reiterated Rating Barclays Equal Weight $49.00 to $44.00
2015-08-24 Lower Price Target Susquehanna Positive $67.00 to $56.00
2015-08-24 Lower Price Target Bank of America Buy $86.00 to $65.00
2015-08-16 Downgrade Scotiabank Focus Stock to Outperform $80.00
2015-08-14 Downgrade Howard Weil Focus Stock to Sector Outperform $80.00
2015-08-10 Lower Price Target Barclays Equal Weight $53.00 to $49.00
2015-07-22 Reiterated Rating Credit Suisse Outperform $83.00 to $80.00
2015-07-21 Lower Price Target Global Hunter Securities Accumulate $77.00 to $64.00
2015-07-21 Lower Price Target Seaport Global Securities Accumulate $77.00 to $64.00
2015-07-20 Lower Price Target Susquehanna Positive $75.00 to $67.00
2015-07-13 Reiterated Rating Barclays Hold $52.00 to $53.00
2015-07-10 Upgrade Macquarie Neutral to Outperform $72.00
2015-07-07 Lower Price Target Jefferies Group $69.00
2015-06-17 Downgrade Oppenheimer Outperform to Market Perform $70.00
2015-06-17 Downgrade Oppenheimer Holdings Inc. Outperform to Market Perform $70.00
2015-06-11 Upgrade GMP Securities Hold to Buy $82.00
2015-06-02 Initiated Coverage Evercore Partners Inc. Hold $76.00
2015-06-01 Reiterated Rating Citigroup Inc. Buy
2015-06-01 Initiated Coverage Evercore ISI Hold $76.00
2015-06-01 Boost Price Target Deutsche Bank Buy $70.00 to $81.00
2015-05-20 Initiated Coverage Imperial Capital Outperform $92.00
2015-05-19 Reiterated Rating Goldman Sachs Neutral $68.00 to $67.00
2015-05-11 Boost Price Target Barclays Equal Weight $50.00 to $52.00
2015-05-06 Boost Price Target RBC Capital Outperform $76.00 to $82.00
2015-04-27 Initiated Coverage Cowen and Company Outperform $80.00
2015-04-24 Reiterated Rating Jefferies Group Buy $75.00 to $78.00
2015-04-22 Initiated Coverage Nomura Neutral $74.00
2015-04-21 Initiated Coverage FBR & Co. Outperform
2015-04-21 Initiated Coverage FBR & Co Outperform
2015-04-07 Boost Price Target Argus Buy $68.00 to $76.00
2015-03-30 Boost Price Target Credit Suisse Outperform $75.00 to $80.00
2015-02-20 Reiterated Rating Jefferies Group Buy $74.00 to $75.00
2015-02-19 Boost Price Target Deutsche Bank Buy $63.00 to $70.00
2015-02-18 Set Price Target Morgan Stanley Hold $62.00
2015-02-18 Reiterated Rating Citigroup Inc. Buy $68.00 to $78.00
2015-02-18 Boost Price Target BMO Capital Markets Outperform $65.00 to $80.00
2015-02-06 Initiated Coverage Jefferies Group Buy
2015-02-05 Initiated Coverage GMP Securities Hold
2015-02-02 Lower Price Target Howard Weil Focus Stock $78.00 to $71.00
2015-01-30 Upgrade Deutsche Bank Hold to Buy $68.00 to $63.00
2015-01-27 Initiated Coverage Guggenheim Neutral
2015-01-20 Upgrade KLR Group Accumulate to Buy
2015-01-14 Downgrade Barclays Overweight to Equal Weight $65.00 to $54.00
2015-01-09 Lower Price Target Argus Buy $88.00 to $68.00
2015-01-06 Lower Price Target Deutsche Bank Hold $76.00 to $68.00
2014-12-16 Lower Price Target Barclays Overweight $75.00 to $65.00
2014-12-16 Upgrade Howard Weil Outperform to Focus Stock
2014-12-08 Lower Price Target Citigroup Inc. Buy $93.00 to $84.00
2014-12-05 Lower Price Target JPMorgan Chase & Co. Neutral $69.00 to $63.00
2014-11-07 Upgrade Tudor Pickering Hold to Accumulate
2014-10-22 Initiated Coverage Susquehanna Positive $75.00
2014-10-21 Upgrade Guggenheim Neutral to Buy $85.00 to $77.00
2014-10-21 Upgrade Global Hunter Securities Neutral to Accumulate $80.00 to $68.00
2014-10-21 Upgrade Seaport Global Securities Neutral to Accumulate $80.00 to $68.00
2014-10-20 Reiterated Rating Morgan Stanley Equal Weight $92.00 to $85.00
2014-10-09 Reiterated Rating Barclays Overweight $95.00 to $82.00
2014-09-24 Initiated Coverage Wolfe Research Outperform $87.00
2014-09-08 Lower Price Target Raymond James $93.00 to $91.00
2014-09-08 Lower Price Target Raymond James Financial Inc. $93.00 to $91.00
2014-07-21 Lower Price Target Barclays Overweight $96.00 to $95.00
2014-07-18 Reiterated Rating JPMorgan Chase & Co. Neutral $75.00 to $87.00
2014-07-18 Reiterated Rating Deutsche Bank Hold $87.00 to $93.00
2014-07-10 Boost Price Target Howard Weil Sector Outperform $87.00 to $89.00
2014-07-07 Boost Price Target Evercore ISI Hold to Average $0.10 to $0.48
2014-07-07 Upgrade Citigroup Inc. Neutral to Buy $21.00 to $96.00
2014-07-01 Reiterated Rating Morgan Stanley Equal Weight $88.00 to $89.00
2014-06-24 Boost Price Target Howard Weil Sector Outperform $77.00 to $87.00
2014-06-16 Boost Price Target Argus Buy $80.00 to $88.00
2014-06-11 Reiterated Rating Deutsche Bank Hold $79.00 to $87.00
2014-06-11 Initiated Coverage Wells Fargo & Co. Buy $100.00
2014-06-11 Initiated Coverage Bank of America Buy $100.00
2014-06-11 Initiated Coverage Wells Fargo Buy $100.00
2014-06-10 Boost Price Target Credit Suisse $80.00 to $90.00
2014-06-03 Upgrade Wells Fargo & Co. Market Perform to Outperform
2014-06-03 Upgrade Wells Fargo Market Perform to Outperform
2014-06-02 Initiated Coverage KLR Group Accumulate
2014-05-20 Reiterated Oppenheimer Outperform $75 to $85
2014-05-20 Upgrade Barclays Equal Weight to Overweight $75.00 to $79.00
2014-05-19 Boost Price Target Oppenheimer Outperform $75.00 to $85.00
2014-05-12 Upgrade Ned Davis Research Sell to Neutral
2014-05-09 Boost Price Target RBC Capital $79.00 to $81.00
2014-05-09 Boost Price Target Morgan Stanley $88.00
2014-04-23 Boost Price Target Guggenheim $70.00 to $80.00
2014-04-23 Boost Price Target Raymond James $79.00 to $85.00
2014-04-23 Boost Price Target Societe Generale Buy $68.00 to $82.00
2014-04-22 Reiterated Rating JPMorgan Chase & Co. Neutral $72.00
2014-04-22 Boost Price Target FBR & Co. Outperform $82.00 to $90.00
2014-04-09 Initiated Coverage BMO Capital Markets Outperform $80.00
2014-04-03 Reiterated Rating Credit Suisse Positive $76.00 to $80.00
2014-04-01 Boost Price Target Deutsche Bank $73.00 to $79.00
2014-03-26 Upgrade Capital One Financial Corp. Equal Weight to Overweight
2014-03-25 Lower Price Target Raymond James $80.00 to $79.00
2014-03-18 Reiterated RBC Capital Mkts Outperform $74 to $76
2014-03-18 Initiated Coverage Goldman Sachs Neutral
2014-03-18 Boost Price Target RBC Capital Outperform $74.00 to $76.00
2014-03-12 Boost Price Target Argus Buy $70.00 to $80.00
2014-03-10 Boost Price Target Guggenheim Neutral $65.00 to $68.00
2014-02-24 Boost Price Target Barclays Equal Weight $72.00 to $75.00
2014-02-21 Boost Price Target FBR & Co. Outperform $77.00 to $82.00
2014-02-21 Boost Price Target Robert W. Baird $73.00 to $74.00
2014-02-20 Boost Price Target Howard Weil Sector Outperform $70.00 to $76.00
2014-02-04 Upgrade Credit Suisse Neutral to Outperform $73.00 to $76.00
2014-01-27 Initiated Coverage Cowen and Company Outperform
2014-01-06 Downgrade Guggenheim Buy to Neutral
2013-12-09 Lower Price Target Deutsche Bank Hold $80.00 to $73.00
2013-12-03 Upgrade Argus Hold to Buy $70.00
2013-12-02 Reiterated RBC Capital Mkts Outperform $72 to $74
2013-12-02 Boost Price Target RBC Capital Outperform $72.00 to $74.00
2013-11-21 Set Price Target Guggenheim $80.00 to $87.00
2013-11-11 Boost Price Target Barclays $70.00 to $71.00
2013-11-11 Upgrade Ned Davis Research Sell to Neutral
2013-11-08 Initiated Coverage Global Hunter Securities Neutral $72.00
2013-11-07 Boost Price Target Robert W. Baird Outperform $72.00 to $75.00
2013-11-07 Downgrade Credit Suisse Outperform to Neutral $82.00 to $74.00
2013-10-28 Boost Price Target Canaccord Genuity Buy $77.00 to $86.00
2013-10-23 Boost Price Target Raymond James Outperform $64.00 to $72.00
2013-10-23 Boost Price Target Howard Weil Sector Outperform $68.00 to $70.00
2013-10-22 Reiterated Rating Guggenheim Buy $76.00 to $78.00
2013-10-22 Boost Price Target Deutsche Bank Hold $73.00 to $80.00
2013-10-22 Boost Price Target Jefferies Group Hold $71.00 to $74.00
2013-10-22 Initiated Coverage Iberia Capital Sector Perform
2013-10-18 Boost Price Target Robert W. Baird Outperform $69.00 to $72.00
2013-10-16 Boost Price Target Barclays Equal Weight $64.00 to $70.00
2013-10-14 Reiterated Rating Canaccord Genuity Buy $75.00
2013-10-14 Lower Price Target Raymond James Outperform $71.00 to $64.00
2013-10-02 Boost Price Target Societe Generale Buy $65.00 to $68.00
2012-11-08 Downgrade UBS Buy to Neutral $70 to $60
2012-11-08 Downgrade Howard Weil Focus Stock to Market Outperform
2016-07-11 Upgrade Howard Weil Sector Outperform to Focus Stock $50.00 to $61.00
2016-07-11 Reiterated Rating Scotiabank Outperform to Focus Stock $50.00 to $61.00
2016-07-07 Reiterated Rating Piper Jaffray Cos. Neutral $39.00 to $41.00
2016-07-07 Reiterated Rating Simmons Neutral $39.00 to $41.00
2016-07-05 Boost Price Target Deutsche Bank AG Buy $41.00 to $45.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
NICHOLS J LARRY EXECUTIVE CHAIRMAN 255114.67%  (1043419) BHGE / BHI / DVN / SONC /
RICHELS JOHN PRESIDENT & CEO 167200.98%  (683852) BOKF / DVN / ENLC / ENLK /
HAGER DAVID A EVP EXPLORATION & PRODUCTION 127565.28%  (521742) DVN /
Vaughn Tony D. EVP EXPLORATION & PRODUCTION 58209.54%  (238077) DVN /
Marcum R. Alan EVP ADMINISTRATION 39896.33%  (163176) DVN /
Ritenour Jeffrey L EVP & CHIEF FINANCIAL OFFICER 35492.67%  (145165) DVN /
MITCHELL THOMAS L EVP & CHIEF FINANCIAL OFFICER 20970.90%  (85771) DVN / ENLC / ENLK / MPO /
Agosta Jeffrey A. EVP & CHIEF FINANCIAL OFFICER 18446.70%  (75447) DVN /
Humphers Jeremy D. SVP-Chief Accounting Officer 16739.12%  (68463) DVN /
RUDOLPH FRANK W EVP HUMAN RESOURCES 16398.29%  (67069) DVN /
HILL JOHN A 9794.13%  (40058) DVN /
BETHANCOURT JOHN E 9517.85%  (38928) DVN /
RADTKE DUANE C 9265.77%  (37897) DVN / FST /
RICCIARDELLO MARY P 8961.61%  (36653) DVN / ENLC / ENLK / MPO / NE /
BAUMANN BARBARA M 7940.83%  (32478) BPL / CVI / DVN / SM / UNS /
MOSBACHER ROBERT A JR 7424.94%  (30368) CPN / DVN /
Whitsitt William F. EVP PUBLIC AFFAIRS 6229.58%  (25479) DVN /
SMETTE DARRYL G EVP MARKETING MIDSTREAM & SUPP 6021.27%  (24627) DVN / ENLC / ENLK / PHX /
KANOVSKY MICHAEL M 3732.03%  (15264) DVN /
Henry Robert H. 2387.04%  (9763) DVN /
Taylor Lyndon C EVP GENERAL COUNSEL 9.78%  (40) DVN /