Devon Energy continues to be rated a 'Buy' as it posted strong first-quarter free cash flow of $816 million and maintained a clean balance sheet with $4.8 billion in liquidity. Despite recent oil price volatility and a technical correction, the company shows disciplined capital management and expects earnings per share growth to accelerate through 2026. The investment case is supported by 17 recent analyst upgrades and a 12.6% free cash flow yield. The revised price target is set at $49-$50, reflecting lower oil prices and the impact of the Coterra acquisition, with technical support around $41-$42 per share.
Citigroup downgraded Devon Energy from Buy to Neutral as activist investor TOMS Capital urges asset sales or a full company sale. Despite this pressure, Devon Energy reported strong first-quarter free cash flow of $816 million and holds $4.8 billion ...
Western Midstream Partners and its Joint Industry Project collaborators, including Chevron and ExxonMobil, have started up a second produced-water treatment pilot facility near Red Bluff Reservoir, Texas. The plant can treat 2,000 barrels of produced...
Devon Energy announced that its President and CEO, Clay Gaspar, will participate in a fireside chat at the J.P. Morgan Energy, Power, Renewables & Mining Conference on June 23, 2026. The event will be webcast live on Devon's website and a replay will...
