Devon Energy Corporation (DVN) Stock

Devon Energy Corporation (DVN) is a Energy stock trading at $42.04 (as of 2026-07-09), with a market capitalization of $26.12B and a trailing P/E of 11.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

Understand Devon Energy Corporation: how it makes money

Devon Energy explores, develops, and produces oil, natural gas, and natural gas liquids in the United States, and earns revenue mainly by selling those produced products.

Devon's profit engine is selling the oil, natural gas, and NGL it produces from its upstream wells, since the largest reported revenue line is Oil, gas and NGL sales.

Revenue by segment (latest quarter)
Oil, gas & NGL$3.1B
Other$0.7B

Business quality (Weak): Good snapshot of latest-quarter scale (revenue 3.8B, operating margin 4.4%) and key revenue line (Oil, gas and NGL sales 3.1B), but limited detail is provided for additional revenue breakdown beyond those line items.

Valuation: At 12× earnings, DVN trades 32% below the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Upstream production focus: Devon primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States, and operates approximately 5,134 gross wells.
  • Reported positive operating performance: For the quarter ended 2026-03-31, Devon reported an operating margin of 4.4%.

Bear case

  • Limited operating margin cushion: An operating margin of 4.4% suggests earnings may be sensitive to unfavorable changes in costs or operating conditions.
  • Revenue depends heavily on oil, gas, and NGL sales: Oil, gas and NGL sales are 3.1B of total revenue 3.8B, so performance can be pressured if these sales weaken.
Valuation — source: SEC EDGAR (first-party)
Price$42.04
Market Cap$26.12B
P/E Ratio11.5
EV / EBITDA5.0
Price / Book1.69
Price / Sales1.58
FCF Yield11.2%
DCF Value (model)$59.40
DCF Upside vs Price41.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$17.19B
Net Margin15.4%
Revenue Growth (YoY)-14.5%
EPS Growth (YoY)-75.3%
FCF Growth (YoY)-19.0%
Financial Health — source: SEC EDGAR
Altman Z-Score2.33 (grey)
Valuation vs Sector & Industry
Stock P/E11.5
Sector P/E (Energy)17.5
Industry P/E (Petroleum & Natural Gas)17.5
vs Sector-34.3%
vs Industry-34.1%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($3.04B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEOClay Gaspar
Employees2,300
CountryUS
IPO Date1985-07-22

Related Companies (Business model: Exploration & Production (Upstream Oil & Gas); 8 closest by market cap; US-domiciled)

  • Occidental Petroleum Corporation (OXY)
  • Diamondback Energy, Inc. (FANG)
  • Cenovus Energy Inc. (CVE)
  • EQT Corporation (EQT)
  • Expand Energy Corporation (EXE)
  • Permian Resources Corporation (PR)
  • Ovintiv Inc. (OVV)
  • Antero Resources Corporation (AR)
DVN earnings history · DVN institutional & insider holders · DVN KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-09.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.