DVNDevon Energy Corp/de
Devon Energy Corp/de (DVN) is a U.S.-based oil and gas exploration and production company with a focus on unconventional resources in the Permian Basin and the Eagle Ford Shale. The next catalyst is Nov 5, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver in-line or better results amid a challenging commodity price environment. The event will also provide clarity on the 2026 capital program and guidance for the full year 2027.
- Revenue for the last reported period ended June 30, 2026, was $19.81B, with a net margin of 18.3% and free cash flow of $6.88B in the trailing twelve months.
- Debt-to-equity stands at 0.60x, suggesting a balanced capital structure.
- Earnings per share (Diluted) for the same period was $2.03, reflecting strong operational performance despite macro pressures.
The Read
Devon Energy's stock rallied on in-line Q4 2025 earnings and 2026 capital guidance, surged further after beating estimates and announcing a $58 billion merger with Coterra, then retreated as WTI crude fell below $42.50 in early June.
The schedule
- Tue9Feb
Q4 2026 Earnings Release and Guidance
- Tue11May
Q1 2027 Earnings Release and Guidance
- Tue10Aug
Q2 2027 Earnings Release and Guidance
- Tue9Nov
Past
- Thu10Sep
Analyst upgrade to Buy from previous rating
- Wed20May
Q3 2026 Earnings Release and Guidance
- Thu7May
Actual outcome: Bear · $44.28 at outcome
Price reached or fell below bear floor ($42.50) at outcome date.
- Wed25Feb
Actual outcome: Bull · $44.52 at outcome
Devon Energy exceeded the bull target following a Q4 earnings and revenue beat, driven by production levels that topped guidance and successful cost-reduction initiatives. The stock's upward momentum was further fueled by the announcement of a $58 billion all-stock merger with Coterra Energy, which is expected to generate $1 billion in annual synergies, and a favorable macro environment with WTI crude reaching $90.
- Wed18Feb
Actual outcome: Bull · $43.29 at outcome
Devon Energy reported Q4 2025 EPS of $0.91, exactly meeting consensus estimates, and released its 2026 Capital Program Guidance. The in-line earnings and updated capital framework reassured investors of the company's operational stability and capital discipline. As a result, the stock maintained levels well above the $41.50 bull target, closing at $43.29 shortly after the event and continuing its broader rally to over $47 by late May.
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