Devon reports second-quarter 2026 financial and operational results
The company also outlined third-quarter guidance and will hold an investor call on August 5.
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Independent oil and natural gas producer
devonenergy.comLast updated
In short: Devon merged with Coterra Energy for $58 billion, authorized an $8 billion share buyback, and reported its highest profit since 2022.
The company also outlined third-quarter guidance and will hold an investor call on August 5.
The exchange offers for existing Coterra notes received high participation rates; settlement expected June 25, 2026.
The combined company is now one of the largest independent oil and gas producers in America.
Production expected at 1.38 MMboe/d, capital $4.9B, targeting 70% FCF return to shareholders.
Family offices and hedge funds are increasing their investments in fossil fuels driven by high prices and geopolitical tension.
Devon Energy is upgraded to Buy with 45% upside to $72 DCF target; Permian scale and asset sales may boost FCF and valuation.
Devon Energy stock rises after Stifel initiates coverage with a Buy rating and $61 price target from 09/10/2026. The share was...
Devon Energy (DVN) Analyst Rating Update On September 10, 2026, Stifel analyst David Deckelbaum...
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