Forty percent of Devon Energy's barrels earn two percent of its revenue. The market is still pricing Devon as though 40% of its barrels will go on earning 2% of its revenue, and that is the one thing about this company that is already changing In the three months to June, Devon Energy produced 3,252 million cubic feet of natural gas a day - roughly 40% of its output on an equivalent-barrel basis - and booked $104 million of gas sales against $5,106 million of total oil, gas and NGL sales. Unhedged gas realized 35 cents per thousand cubic feet, or 12% of a $2.90 Henry Hub, because spot prices at the Waha hub in West Texas went negative during the quarter. Oil, meanwhile, was 37% of the volume and 85% of the upstream revenue. That lopsidedness is where the opportunity sits. Devon is a US onshore oil and gas producer that, since closing an all-stock merger with Coterra Energy on May 7, operates in five core areas: the Permian, which was 55% of second-quarter volumes, the Rockies at 15%, the Marcellus at 15%, the Anadarko at 9%, and the Eagle Ford at 6%. The deal doubled the company and bolted a large gas position onto an oil franchise at the precise moment Permian gas was worthless at the wellhead. The market has priced the result as a complicated, gas-dragged aggregate. What it has not priced is that the gas discount was a physical bottleneck with a physical fix now arriving, that the portfolio is being cut down to the Delaware Basin in public, one signed transaction at a time, and that the cash from those sales lands in a repurchase program with room to retire a meaningful slice of the company. At $48.26 on October 9 - about 9.4x the $5.12 consensus estimate for 2027 - the stock still carries the complexity discount and is close to losing the reason for it. What broke in April was mechanical, not a verdict on the assets. Devon's shares peaked at $52.71 intraday in the week to April 2 and traded as low as $39.99 in the week to July 2, a 24% drawdown - while the oil price did the opposite. The WTI index averaged $72.10 in the first quarter and $92.47 in the second. A producer losing a quarter of its value into a 28% rise in its main product owes most of that move to something... Access all articles & much more. Extensive research tools and intelligence for professionals * Real-time research coverage on 6,000 companies * Interactive briefings, topical news, and smart Q&A * Idea pitches, industry analyses, and proactive alerts

Devon Energy (NYSE:DVN) price target cut to $61.00 by analysts at Truist Financial. Devon Energy (NYSE:DVN - Get Free Report) had its target price lowered by Truist Financial from $65.00 to $61.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the energy company's stock. Truist Financial's target price would indicate a potential upside of 27.89% from the company's previous close. A number of other research firms also recently issued reports on DVN. Susquehanna boosted their target price on shares of Devon Energy from $57.00 to $63.00 and gave the company a "positive" rating in a research report on Tuesday, July 21st. Evercore raised shares of Devon Energy from an "in-line" rating to an "outperform" rating and set a $54.00 price objective on the stock in a report on Wednesday, June 10th. JPMorgan Chase & Co. increased their target price on shares of Devon Energy from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, October 2nd. Wall Street Zen raised shares of Devon Energy from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, The Goldman Sachs Group decreased their price objective on shares of Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.03. Devon Energy trading down 0.7%. Discover more News Headlines Business News Online Newspaper Access Shares of NYSE:DVN traded down $0.32 during mid-day trading on Wednesday, reaching $47.70. 1,854,622 shares of the company's stock were exchanged, compared to its average volume of 13,185,002. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.30 and a beta of 0.49. The business's fifty day moving average price is $47.19 and its 200-day moving average price is $46.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. Devon Energy has a twelve month low of $31.47 and a twelve month high of $52.71. Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm's quarterly revenue was up 73.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, research analysts predict that Devon Energy will post 5.27 EPS for the current fiscal year. Insider transactions at Devon Energy. In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the sale, the executive vice president owned 72,720 shares of the company's stock, valued at approximately $3,705,084. The trade was a 8.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clay M. Gaspar acquired 3,913 shares of Devon Energy stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the acquisition, the chief executive officer owned 619,152 shares of the company's stock, valued at $31,626,284.16. This trade represents a 0.64% increase in their position. The SEC filing for this purchase provides additional information. 4.58% of the stock is owned by insiders. Institutional investors weigh in on Devon Energy. Large investors have recently added to or reduced their stakes in the company. Moody National Bank Trust Division increased its stake in shares of Devon Energy by 16.6% in the third quarter. Moody National Bank Trust Division now owns 9,159 shares of the energy company's stock worth $422,000 after purchasing an additional 1,303 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in Devon Energy in the 3rd quarter worth approximately $221,000. Eastern Bank grew its stake in Devon Energy by 2.6% in the 3rd quarter. Eastern Bank now owns 71,445 shares of the energy company's stock valued at $3,289,000 after buying an additional 1,786 shares in the last quarter. Collective Family Office LLC bought a new stake in Devon Energy during the 3rd quarter valued at $315,000. Finally, Miller Global Investments LLC lifted its position in shares of Devon Energy by 2.5% during the third quarter. Miller Global Investments LLC now owns 26,366 shares of the energy company's stock worth $1,214,000 after acquiring an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock. About Devon Energy. Devon Energy Corporation (NYSE: DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates in the United States and focuses on onshore properties with oil- and liquids-rich resources. Devon's operations are concentrated in several major U.S. producing regions, including the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin. Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Chevron stock and 2 top energy stocks. October 2, 2026 Oil and gas prices sit in the spotlight again as bond markets sell off and government borrowing costs climb to multi decade highs, partly linked to energy cost concerns. That pulls investor attention back to the global producers that supply the world's fuel. This article looks at three large listed oil and gas stocks from the screener and breaks down what makes each one worth a closer look today. The three stocks below are just a starting sample. The full screen surfaced 32 more oil and gas companies with equally compelling narratives that are not covered in this article. To go wider than this short list, analyze and identify your own highest conviction ideas directly inside the Oil and Gas screener. Overview: Chevron is an integrated energy company that explores for, produces, transports, and refines crude oil and natural gas worldwide, with additional chemicals and fuels operations. Operations: Chevron generates revenue mainly from its Upstream segments in the United States and internationally at about US$52.6b and US$55.1b, alongside large Downstream operations in the United States and internationally at roughly US$82.5b and US$78.8b. Market Cap: US$400.6b For investors focused on Top Oil and Gas Companies worldwide, Chevron offers a large scale integrated way to tap global oil and natural gas production, with upstream projects feeding into refining and chemicals that can help smooth the cycle. "Record production growth, especially in the Permian and from the Hess acquisition in areas such as Guyana and the Bakken, now sits on top of capital and drilling programs that aim to keep Permian volumes around 1 million barrels per day with lower CapEx per barrel, which supports future revenue and free cash flow." What happens to Chevron's margin story if a single key assumption about future cost progress and project delivery timing changes? If that question is on your mind, read the full narrative for Chevron to learn how Chevron's cost curve, project timing, and cash priorities could be accelerating or masking the margin story. Overview: Devon Energy focuses on exploring and producing crude oil, natural gas, and natural gas liquids from major U.S. shale basins. Operations: Devon Energy generates about US$18.8b of revenue from oil and gas exploration and production, entirely from operations within the United States. Market Cap: US$52.9b Devon Energy matters in this Oil and Gas screen because it gives you pure play exposure to large scale U.S. shale production, supported by a growing toolkit of technology and infrastructure initiatives that are aimed at squeezing more value from each barrel and molecule. "Devon Energy's expanding application of AI tools from drilling and completions into autonomous artificial lift on more than 1,000 wells, along with broader deployment across legacy Coterra wells, is expected to keep lowering unit operating costs and sustaining capital efficiency improvements that support operating margins and free cash flow." The real test comes if one quietly building pressure point shifts the balance between those efficiency gains and the cash returns investors expect. When that pressure point starts to bite, the full narrative for Devon Energy shows whether Devon Energy's capital returns story is accelerating, stalling or quietly being reshaped. Overview: EQT is a large Appalachian Basin producer that develops, gathers, and sells natural gas, NGLs, and some oil to U.S. customers. Operations: EQT generates about US$8.8b from upstream production, US$1.3b from gathering, and US$594 million from transmission, almost entirely in the United States. Market Cap: US$30.4b EQT provides direct exposure to Appalachian natural gas in the Oil and Gas screener, supported by a vertically linked production and midstream setup that is increasingly tied into power demand, data centers, and potential future LNG flows. "Although EQT is lining up long dated gas supply for new power and data center projects in Appalachia, the recent dip in regional spot prices to the company's own shut in trigger near $1.50 per MMBtu suggests pipeline constraints could still force curtailments that cap the realized benefit of new demand, limiting revenue and compressing net margins if local prices stay weak." What ultimately matters for EQT is how one pressure point in its route to market affects the balance between low costs and durable cash generation. That route to market risk is only half the story, and the full narrative for EQT shows how EQT's contract mix, costs and demand links could be quietly decoupling. Seeking fresh alternatives beyond oil? Fresh opportunities move fast. Some ideas are building quiet momentum, others are dropping into attractive territory under the radar for now. Do not wait for the crowd. Consider acting while conditions still suit your strategy. This article by Simply Wall St is general in nature. Summa Money provide commentary based on historical data and analyst forecasts only using an unbiased methodology and its articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Summa Money aim to bring you long-term focused analysis driven by fundamental data. Note that its analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Have feedback on this article? Concerned about the content? Get in touch with Summa Money directly. Alternatively, email [email protected]