DVN
Devon Energy
September 16, 2026 · market open
- Rarity
- 1.37
- Peak move
- −5.94%
- Float cap
- $29.8B
Devon Energy is an independent oil and natural gas exploration and production company operating onshore in the United States. It drills and produces crude oil, natural gas and natural gas liquids from a multi-basin portfolio centered on the Delaware Basin, plus the Eagle Ford, Anadarko Basin, Williston Basin and Powder River Basin. It sells its production to refiners, midstream gatherers and energy marketers, and is headquartered in Houston, Texas.
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What we found
17 events · 0 from SEC or newswire · 0 timed with the movecommodity_eventUS crude inventories unexpectedly rose 7.1 million barrels in the week ended Sept 11, per the American Petroleum Institute.
analyst_ratingDevon Energy was upgraded to Buy with a $72 DCF-based price target citing Permian Basin scale and anticipated sales of non-core Marcellus and Anadarko assets, which could reposition the company as a Permian pure-play by November.
large_option_expiryDevon Energy saw 110,852 calls trade, about 7x expected, with implied volatility up over 1 point to 34.97%; the Sep-26 $45 and $42.5 calls were most active with near 40,900 contracts, put/call ratio 0.14.
commodity_eventOPEC's August crude production fell 900,000 bpd month-over-month to 19.91 million bpd, with Saudi output at 6.238 million bpd, the lowest since 1990.
commodity_eventKpler data showed cargo ships transiting the Strait of Hormuz fell to 4 on Sept 14 from 10 a day earlier.
macro_dataChina's official data showed crude processed at its refineries rose for a second consecutive month in August 2026.
commodity_eventOPEC's reference basket jumped 5.6% to $123.11 a barrel on Sept 15, its sixth straight session of gains for a cumulative 26% rise.
analyst_ratingDevon Energy was upgraded to Buy with a $72 price target implying 45% upside, tied to its Permian Basin position and expected sales of non-core assets with divestitures targeted by November.
- Key event
commodity_eventBernstein analysts Neil Beveridge and Brian Ho raised their Brent crude forecast to $120-150 per barrel from $90 for 2026, calling the market 'structurally undersupplied', as shale oil stocks including Devon Energy rose.
- Key event
commodity_eventOil prices rose, with WTI above $100/bbl and Brent above $108/bbl, after Saudi Arabia shut its 7 million bpd East-West pipeline following attacks and Aramco delayed some September European deliveries.
- Key event
geopoliticalYemen's Houthi rebels captured the Red Sea port city of Mokha and attacked Saudi energy facilities, forcing some to halt production and putting Saudi Arabia's Red Sea export route at risk.
operating_metricsBaker Hughes reported the number of active US oil rigs rose by 1 to 450 in the week ended Sept 11.
insider_saleDevon Energy EVP of Exploration & Production Robert Ferrall Lowe III sold 6,756 shares at an average price of $50.95 for about $344,218 on Sept 14, 2026, cutting his direct stake 8.5% to 72,720 shares, per an SEC filing.
analyst_ratingRaymond James analyst John Freeman raised his price target on Devon Energy to $67 from $64 while keeping a Strong Buy rating, citing the ongoing portfolio review as the key near-term catalyst, per a Sept 14, 2026 note.
analyst_ratingUBS maintained Devon Energy with a Buy rating and raised its price target to $63.00, an update dated Sept 14, 2026.
institutional_flowNewEdge Advisors LLC raised its Devon Energy stake 31.3% in the second quarter, buying 41,039 additional shares for a total of 171,979 shares worth about $7.11 million, per its latest SEC disclosure.
dividend_changeDevon Energy's board-declared quarterly dividend of $0.32 per share (a $1.28 annualized payout) goes ex-dividend Sept 15, 2026 for shareholders of record that date, payable Sept 30, 2026.