Crescent Energy buys back assets from Devon Energy, shares drop 15%, target price $14 amid oil price and integration risks.

Crescent Energy (CRGY) plans to buy back $3.85 billion in Eagle Ford assets from Devon Energy (DVN), causing its shares to fall about 15% to $11. The deal values CRGY with upside potential if oil prices stay above $68 WTI, supported by dividend coverage and debt reduction. Risks include integration challenges, drilling execution, and leverage after equity raises. Key upcoming events are deal closure, a royalty IPO, and oil price trends, while Devon Energy focuses on the Permian basin and faces activist investor pressure.

Crescent Energy shares trade at USD 12.03, up 3.57% as of Nov 13, 2026 13:41 WIB on Pluang, reflecting investor interest despite recent deal news. Devon Energy is priced at USD 46.52, rising 0.63%, with a market cap of $49.47B. Crescent Energy's dividend yield stands at 4.13%, higher than Devon's 2.95%, highlighting its income appeal in the energy sector.