DVN
Devon Energy Corporation
$50.92
+0.37% 2026-10-19
EnergyS&P 500
DVNSPY
1W
+4.0%
1M
+4.8%
3M
+17.1%
6M
+14.9%
YTD
+41.6%
1Y
+64.5%
Grades vs sector
Momentum66th pct in sectorB
Momentum
66th pct in sector
12-1 return: +45.3%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Growth92nd pct in sectorA
Growth
92nd pct in sector
Revenue growth (YoY): +64.2%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Value65th pct in sectorB
Value
65th pct in sector
Forward E/P: 10.5% · EBITDA/EV: 13.4%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Profitability52nd pct in sectorC+
Profitability
52nd pct in sector
Profit margin: +17.5% · Return on equity: +11.5%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Revisionsno data–
Revisions
no data
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 3 live models right now.
Momentum Top 15
rank 91 of 499 · 12-1 momentum % 41.0
Quality Growthnot ranked (outside this model's universe or screens)
Momentum Blendnot in the current book
Key stats
Market cap$56.0B
P/E (trailing)11.1
P/E (forward)9.5
52-week range31.47 – 52.71
Revenue growth (YoY, latest qtr)+64.2%
Dividend yield2.52%
Analyst consensusStrong Buy (27)
Mean price target$61.41 (+21%)
Valuation & fundamentals
Bottom line
Looks undervalued
Model read-out from the numbers below, not advice. Score +4 (DCF counts double).
▲DCF (base case)above the price by 1281%
▲Forward P/E vs sector9.5x vs median 13.6x
•Piotroski F-score6/9
•Net debt / EBITDA1.8x
▲Analyst target+21% (27 analysts)
Discounted cash flow
CyclicalValued on average-cycle margins
Oil & Gas Exploration & Production profits swing with the business cycle, so one year's cash flow can be far above or below normal. Instead of the last 12 months' free cash flow (9.1B, a 46% margin), the DCF and reverse DCF use the average free-cash-flow margin over FY2016–FY2025 (7 years: 37.4%) times current revenue = 7.4B. On trailing cash flow the base case would be $871; on mid-cycle cash flow it is $703. Glossary
Bear
$269
+429%
growth 18% · disc. 8.0% · term. 2.0%
Base
$703
+1281%
growth 30% · disc. 7.0% · term. 2.5%
Bull
$1,598
+3038%
growth 38% · disc. 6.0% · term. 3.0%
Starting cash flow is mid-cycle: 37.4% average margin × current revenue = 7.4B (last 12 months: 9.1B at a 46% margin). On trailing cash flow the base case would be $871.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price implies shrinking cash flows: about -9% a year for 10 years.
Implied
-9%/yr
FCF, last 3 yrs
-8%/yr
FCF, last 5 yrs
n/a
Revenue, last 3 yrs
-4%/yr
Revenue, last 5 yrs
+29%/yr
Same inputs as the DCF above: mid-cycle free cash flow 7.4B, 7.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.54 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs Energy
P/E (trailing)
cheaper
sector median 17.7× · 22nd pct
11.1×cheaper
Forward P/E
cheaper
sector median 13.6× · 25th pct
9.5×cheaper
EV / EBITDA
pricier
sector median 8.1× · 70th pct
10.6×pricier
Price / sales
pricier
sector median 2.2× · 60th pct
2.8×pricier
Price / book
cheaper
sector median 1.9× · 20th pct
1.3×cheaper
FCF yield
cheaper
sector median 7.7% · 84th pct
16.2%cheaper
Forward EPS $5.36 vs trailing $4.59 (+17% expected growth). Forward P/E uses analysts' next-12-month estimate.
Backlog (remaining performance obligations)
RPO
$5.3B
as of 2026-06-30
vs a year ago
–
YoY
× TTM revenue
0.27×
coverage
Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).
Quality & financial health
Gross margin
86.6%
Operating margin
11.2%
FCF margin
46.2%
Net margin
16.7%
Return on equity
7.9%
Return on invested capital
3.3%
Net debt / EBITDA
1.8×
Current ratio
0.7×
Interest cover
4.4×
Cash conversion (OCF/NI)
2.6×
Piotroski F-score 6/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved
Analysts
Mean target
$61
+21%
Analysts
27
Strong Buy
Range
$44–$74
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $17.2B | $2.6B | $6.7B |
| 2024 | $15.9B | $2.9B | $6.6B |
| 2023 | $15.3B | $3.7B | $6.5B |
| 2022 | $19.2B | $6.0B | $8.5B |
| 2021 | $12.2B | $2.8B | $4.9B |
| 2020 | $4.8B | $-2.7B | – |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -3.6%.
Earnings
Next report: 2026-11-05 · during market · EPS est 1.27
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-08-04 | 1.41 | 1.57 | +11.3% |
| 2026-05-05 | 1.09 | 1.04 | -4.9% |
| 2026-02-17 | 0.83 | 0.82 | -0.8% |
| 2025-11-05 | 0.94 | 1.04 | +10.6% |
| 2025-08-05 | 0.86 | 0.84 | -2.8% |
| 2025-05-06 | 1.23 | 1.21 | -1.5% |
| 2025-02-18 | 1.00 | 1.16 | +15.7% |
| 2024-11-05 | 1.10 | 1.10 | +0.4% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $7.4B | +73.1% |
| 2026-03-31 | $3.8B | – |
| 2025-12-31 | $4.1B | – |
| 2025-09-30 | $4.3B | – |
| 2025-06-30 | $4.3B | – |
Analyst actions
Mizuho
PT $65
2026-10-16 · main
Outperform → OutperformPT $65
Scotiabank
PT $61
2026-10-15 · init
→ Sector OutperformPT $61
Morgan Stanley
PT $65
2026-10-15 · main
Overweight → OverweightPT $65
Barclays
PT $60
2026-10-09 · main
Overweight → OverweightPT $60
UBS
PT $65
2026-10-07 · main
Buy → BuyPT $65
Truist Securities
PT $61
2026-10-07 · main
Buy → BuyPT $61
Recent dividends
2026-09-15: $0.320 · 2026-06-15: $0.320 · 2026-03-13: $0.240 · 2025-12-15: $0.240 · 2025-09-15: $0.240 · 2025-06-13: $0.240 · 2025-03-14: $0.240 · 2024-12-13: $0.220
Insider trades
Gaspar Clay M
$199.9K
Director, PRESIDENT AND CEO · 2026-09-14
BUY$199.9K
Lowe Robert Ferrall Iii
$344.2K
EVP EXPLORATION & PRODUCTION · 2026-09-14
SELL$344.2K
None
–
None · None
SELL–
News
EOG Resources, Inc. (EOG) Soars to 52-Week High, Time to Cash Out?
Zacks · 19h ago
BMO Capital Adjusts Price Target on Devon Energy to $65 From $67
MT Newswires · 19h ago
Elite Energy Stocks To Own In October 2026
Simply Wall St. · Oct 17
Mizuho Securities Adjusts Devon Energy Price Target to $65 From $68
MT Newswires · Oct 16
Devon Energy (DVN) Stock Drops Despite Market Gains: Important Facts to Note
Zacks · Oct 15
Here Are Thursday’s Top Wall Street Analyst Research Calls: AngloGold Ashanti, Bank of America, Cirrus Logic, Crocs, Diamondback Energy, Devon Energy, Netflix, PayPal, Spotify Technolgy , and More
24/7 Wall St. · Oct 15
Morgan Stanley Adjusts Devon Energy Price Target to $65 From $63
MT Newswires · Oct 14
The Zacks Analyst Blog Highlights Crescent Energy, Devon Energy, Energy Transfer, Cenovus Energy and Drilling Tools International
Zacks · Oct 14
His Oklahoma City Employer Moved to Texas, Then Paid Him a $20,000 Retention Bonus After He Retired. Social Security Looked at When He Earned It
24/7 Wall St. · Oct 12
Stocktwits M&A Watch: Viatris-Pacira Deal, Coca-Cola’s Costa Coffee Sale, Devon’s Eagle Ford Divestiture In Focus
Stocktwits · Oct 12
Stats refreshed 2026-10-19 19:01:41 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
coteau
Coteau Systematic StrategiesSystematic equity research and model portfolios.Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.