DEVON ENERGY CORP/DE
In the published model solve dated 2026-Q2, anchored at $47.48, DEVON ENERGY CORP/DE (DVN) is priced for +4.6% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• One basin carries the reserve base: of the reserves Devon added through extensions and discoveries last year, 212 MMBoe came from the Delaware Basin, against 33 MMBoe in the Anadarko Basin and 32 MMBoe in Eagle Ford. • Profit here is set by a market the company does not control, and the 10-K opens its strategy discussion by conceding exactly that: ⟦"our cash flow is highly dependent on volatile and uncertain commodity prices"⟧. • Second-quarter results are due August 4, and press reporting has
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1,207 institutional managers reported holding DVN in 13F filings for the quarter ended 2026-03-31. Together they hold about 87% of the company; the top 10 hold 46%. 206 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 29.5M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
DVN has cut its share count 8.2% over the past five years, spending $5.04B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting); the current rate is $0.67 a share annually. Cash returned over the past three years: $2.51B in dividends and $2.68B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at DVN over the trailing three years: 2024: 1 buy totaling $666k. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
DVN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -7.9% | -15.7% |
| 2023-11-09 | -5.4% | -1.3% |
| 2024-02-29 | +0.5% | +14.3% |
| 2024-05-03 | -1.6% | -7.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
DVN's latest 8-K filings: 2026-08-27 (items 5.02); 2026-08-20 (items 5.02); 2026-08-04 (items 2.02, 9.01); 2026-06-30 (items 5.07); 2026-06-25 (items 1.01, 2.03, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.