DEVON ENERGY CORP/DE
DVN · Crude Petroleum & Natural Gas · 621.4M shares · +12%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $886M (gross $979M, SBC $93M)
Reference price $30.05 · est. market cap ~$18.7B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Scaled, well-run independent E&P with top-quartile returns and large free cash flow despite commodity cyclicality.
Strengths
- Strong returns (ROE 17%, 80th pct; ROA 8.4%, 85th pct) and $6.7B operating cash flow with disciplined capital returns
- Premium Delaware Basin core, low leverage relative to peers and a pending Coterra merger adding scale/synergies
Risks
- Price-taker exposed to volatile oil/gas prices and high decline rates requiring continual capital reinvestment
- $8.4B debt outstanding and execution risk on the all-stock Coterra merger
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.98 (<1)
- Strong balance sheetStrong balance sheet — $1.4B cash & investments
- Pending mergerOn February 1, 2026, we entered into the Merger Agreement, providing for an all-stock merger of equals with Coterra
- Insider sellingInsider selling — 4 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$58M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
15.4%
Return on equity
17.0%
Return on assets
8.4%
Revenue growth (QoQ)
9.4%
Net-income growth
-8.7%
Debt / equity
0.5×
Current ratio
1.0×
Tangible book value
$14.8B
Cash & investments
$1.4B
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | DEVON ENERGY CORP/DE | Other | 1.8M | — |
| 2026-06-22 | DEVON ENERGY CORP/DE | Conversion | 1.8M | — |
| 2026-06-22 | DEVON ENERGY CORP/DE | Sell | 1.8M | $30.05 |
| 2026-06-10 | Alexander Andrea | Sell | 18K | $46.74 |
| 2026-05-15 | JORDEN THOMAS E | Tax withheld | 53K | $49.49 |
| 2026-05-15 | JORDEN THOMAS E | Tax withheld | 50K | $49.49 |
| 2026-05-15 | JORDEN THOMAS E | Tax withheld | 53K | $49.49 |
| 2026-05-15 | JORDEN THOMAS E | Tax withheld | 50K | $49.49 |
| 2026-05-15 | JORDEN THOMAS E | Gift | 316K | — |
| 2026-05-15 | JORDEN THOMAS E | Gift | 316K | — |
| 2026-05-14 | DEVON ENERGY CORP/DE | Conversion | 25.6M | — |
| 2026-05-14 | DEVON ENERGY CORP/DE | Conversion | 3.4M | — |
| 2026-05-14 | DEVON ENERGY CORP/DE | Conversion | 2.3M | — |
| 2026-05-14 | DEVON ENERGY CORP/DE | Conversion | 4.4M | — |
| 2026-05-14 | Vela Adam M | Sell | 24K | $47.21 |
| 2026-05-11 | Ritenour Jeffrey L | Sell | 70K | $46.66 |
| 2026-05-07 | Young, III Shannon E. | Grant | 129K | — |
| 2026-05-07 | Young, III Shannon E. | Grant | 97K | — |
| 2026-05-07 | Young, III Shannon E. | Grant | 48K | — |
| 2026-05-07 | Young, III Shannon E. | Grant | 49K | — |
| 2026-05-07 | WATTS MARCUS A | Grant | 56K | — |
| 2026-05-07 | Vela Adam M | Grant | 49K | — |
| 2026-05-07 | Vela Adam M | Grant | 53K | — |
| 2026-05-07 | Vela Adam M | Grant | 28K | — |
| 2026-05-07 | Vela Adam M | Grant | 26K | — |
| 2026-05-07 | SIRGO BLAKE A | Grant | 58K | — |
| 2026-05-07 | SIRGO BLAKE A | Grant | 70K | — |
| 2026-05-07 | SIRGO BLAKE A | Grant | 37K | — |
| 2026-05-07 | SIRGO BLAKE A | Grant | 34K | — |
| 2026-05-07 | JORDEN THOMAS E | Grant | 2.1M | — |
| 2026-05-07 | JORDEN THOMAS E | Grant | 260K | — |
| 2026-05-07 | JORDEN THOMAS E | Grant | 126K | — |
| 2026-05-07 | JORDEN THOMAS E | Grant | 134K | — |
| 2026-05-07 | Shellebarger Jeffrey Earle | Grant | 6.5K | — |
| 2026-05-07 | Hernandez Jacinto J | Grant | 6.8K | — |
| 2026-05-07 | DeShazer Michael D. | Grant | 64K | — |
| 2026-05-07 | DeShazer Michael D. | Grant | 70K | — |
| 2026-05-07 | DeShazer Michael D. | Grant | 37K | — |
| 2026-05-07 | DeShazer Michael D. | Grant | 34K | — |
| 2026-05-07 | Conaway Gregory F | Grant | 18K | — |
| 2026-05-07 | Brock Amanda M | Grant | 56K | — |
| 2026-05-07 | Alexander Andrea | Grant | 62K | — |
| 2026-05-07 | Alexander Andrea | Grant | 47K | — |
| 2026-05-07 | Alexander Andrea | Grant | 23K | — |
| 2026-05-07 | Alexander Andrea | Grant | 24K | — |
| 2026-02-10 | Sherrer John Bennett | Tax withheld | 164 | $43.48 |
| 2026-02-10 | Sherrer John Bennett | Tax withheld | 137 | $43.48 |
| 2026-02-10 | Sherrer John Bennett | Tax withheld | 257 | $43.48 |
| 2026-02-10 | Sherrer John Bennett | Tax withheld | 343 | $43.48 |
| 2026-02-10 | Sherrer John Bennett | Grant | 3.7K | — |
| 2026-02-10 | Ritenour Jeffrey L | Tax withheld | 9.4K | $43.48 |
| 2026-02-10 | Ritenour Jeffrey L | Tax withheld | 4.9K | $43.48 |
| 2026-02-10 | Ritenour Jeffrey L | Tax withheld | 3.9K | $43.48 |
| 2026-02-10 | Ritenour Jeffrey L | Tax withheld | 2.5K | $43.48 |
| 2026-02-10 | Ritenour Jeffrey L | Tax withheld | 2.7K | $43.48 |
| 2026-02-10 | Ritenour Jeffrey L | Grant | 35K | — |
| 2026-02-10 | Raines John David | Tax withheld | 1.6K | $43.48 |
| 2026-02-10 | Raines John David | Tax withheld | 1.9K | $43.48 |
| 2026-02-10 | Raines John David | Tax withheld | 974 | $43.48 |
| 2026-02-10 | Raines John David | Tax withheld | 647 | $43.48 |
| 2026-02-10 | Raines John David | Tax withheld | 840 | $43.48 |
| 2026-02-10 | Raines John David | Grant | 17K | — |
| 2026-02-10 | Lowe Robert Ferrall III | Tax withheld | 1.1K | $43.48 |
| 2026-02-10 | Lowe Robert Ferrall III | Tax withheld | 1.1K | $43.48 |
| 2026-02-10 | Lowe Robert Ferrall III | Tax withheld | 649 | $43.48 |
| 2026-02-10 | Lowe Robert Ferrall III | Tax withheld | 432 | $43.48 |
| 2026-02-10 | Lowe Robert Ferrall III | Tax withheld | 525 | $43.48 |
| 2026-02-10 | Lowe Robert Ferrall III | Grant | 9.2K | — |
| 2026-02-10 | Lowe Robert Ferrall III | Grant | 17K | — |
| 2026-02-10 | Hellman Thomas Jeffrey | Tax withheld | 1.9K | $43.48 |
| 2026-02-10 | Hellman Thomas Jeffrey | Grant | 17K | — |
| 2026-02-10 | Gaspar Clay M | Tax withheld | 10K | $43.48 |
| 2026-02-10 | Gaspar Clay M | Tax withheld | 10K | $43.48 |
| 2026-02-10 | Gaspar Clay M | Tax withheld | 4.3K | $43.48 |
| 2026-02-10 | Gaspar Clay M | Tax withheld | 2.8K | $43.48 |
| 2026-02-10 | Gaspar Clay M | Tax withheld | 3.2K | $43.48 |
| 2026-02-10 | Gaspar Clay M | Grant | 68K | — |
| 2026-02-10 | Cashion Tana K | Tax withheld | 4.2K | $43.48 |
| 2026-02-10 | Cashion Tana K | Tax withheld | 2.2K | $43.48 |
| 2026-02-10 | Cashion Tana K | Tax withheld | 1.8K | $43.48 |
| 2026-02-10 | Cashion Tana K | Tax withheld | 1.1K | $43.48 |
| 2026-02-10 | Cashion Tana K | Tax withheld | 1.3K | $43.48 |
| 2026-02-10 | Cashion Tana K | Grant | 16K | — |
| 2026-02-10 | CAMERON DENNIS C | Tax withheld | 6.5K | $43.48 |
| 2026-02-10 | CAMERON DENNIS C | Tax withheld | 3.3K | $43.48 |
| 2026-02-10 | CAMERON DENNIS C | Tax withheld | 2.7K | $43.48 |
| 2026-02-10 | CAMERON DENNIS C | Tax withheld | 1.7K | $43.48 |
| 2026-02-10 | CAMERON DENNIS C | Tax withheld | 1.7K | $43.48 |
| 2026-02-10 | CAMERON DENNIS C | Grant | 24K | — |
| 2026-01-27 | Ritenour Jeffrey L | Grant | 21K | — |
| 2026-01-27 | Raines John David | Grant | 3.7K | — |
| 2026-01-27 | Lowe Robert Ferrall III | Grant | 2.5K | — |
| 2026-01-27 | Gaspar Clay M | Grant | 24K | — |
| 2026-01-27 | Cashion Tana K | Grant | 9.5K | — |
| 2026-01-27 | CAMERON DENNIS C | Grant | 15K | — |
| 2025-11-21 | CAMERON DENNIS C | Gift | 11K | — |
| 2025-10-09 | SMOLIK BRENT J | Grant | 4.5K | — |
| 2025-08-11 | KINDICK KELT | Sell | 7.7K | $33.46 |
| 2025-06-04 | Williams Valerie | Grant | 7.3K | — |
| 2025-06-04 | MEARS MICHAEL N | Grant | 7.3K | — |
| 2025-06-04 | KINDICK KELT | Grant | 7.3K | — |
| 2025-06-04 | Kelly Gennifer F. | Grant | 7.3K | — |
| 2025-06-04 | MOSBACHER ROBERT A JR | Grant | 7.3K | — |
| 2025-06-04 | Kurz Karl F | Grant | 7.3K | — |
| 2025-06-04 | BETHANCOURT JOHN E | Grant | 10K | — |
| 2025-06-04 | Fox Ann G | Grant | 7.3K | — |
| 2025-06-04 | BAUMANN BARBARA M | Grant | 7.3K | — |
| 2025-05-14 | CAMERON DENNIS C | Gift | 29K | — |
| 2025-04-10 | Sherrer John Bennett | Tax withheld | 400 | $27.75 |
| 2025-04-10 | Raines John David | Tax withheld | 1.2K | $27.75 |
| 2025-02-10 | Harris David Gerard | Tax withheld | 12K | $34.26 |
| 2025-02-10 | Harris David Gerard | Tax withheld | 5.6K | $34.26 |
| 2025-02-10 | Harris David Gerard | Tax withheld | 2.7K | $34.26 |
| 2025-02-10 | Harris David Gerard | Tax withheld | 2.5K | $34.26 |
| 2025-02-10 | Harris David Gerard | Tax withheld | 4.0K | $34.26 |
| 2025-02-10 | Sherrer John Bennett | Tax withheld | 166 | $34.26 |
| 2025-02-10 | Sherrer John Bennett | Tax withheld | 136 | $34.26 |
| 2025-02-10 | Sherrer John Bennett | Tax withheld | 259 | $34.26 |
| 2025-02-10 | Sherrer John Bennett | Grant | 4.7K | — |
| 2025-02-10 | Ritenour Jeffrey L | Tax withheld | 12K | $34.26 |
| 2025-02-10 | Ritenour Jeffrey L | Tax withheld | 5.6K | $34.26 |
| 2025-02-10 | Ritenour Jeffrey L | Tax withheld | 2.7K | $34.26 |
| 2025-02-10 | Ritenour Jeffrey L | Tax withheld | 2.5K | $34.26 |
| 2025-02-10 | Ritenour Jeffrey L | Tax withheld | 4.0K | $34.26 |
| 2025-02-10 | Ritenour Jeffrey L | Grant | 44K | — |
| 2025-02-10 | Raines John David | Tax withheld | 1.7K | $34.26 |
| 2025-02-10 | Raines John David | Tax withheld | 1.1K | $34.26 |
| 2025-02-10 | Raines John David | Tax withheld | 558 | $34.26 |
| 2025-02-10 | Raines John David | Tax withheld | 430 | $34.26 |
| 2025-02-10 | Raines John David | Tax withheld | 646 | $34.26 |
| 2025-02-10 | Raines John David | Grant | 18K | — |
| 2025-02-10 | Muncrief Richard E | Tax withheld | 33K | $34.26 |
| 2025-02-10 | Muncrief Richard E | Tax withheld | 20K | $34.26 |
| 2025-02-10 | Muncrief Richard E | Tax withheld | 7.4K | $34.26 |
| 2025-02-10 | Muncrief Richard E | Tax withheld | 6.8K | $34.26 |
| 2025-02-10 | Muncrief Richard E | Tax withheld | 11K | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Tax withheld | 1.0K | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Tax withheld | 664 | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Tax withheld | 349 | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Tax withheld | 287 | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Tax withheld | 431 | $34.26 |
| 2025-02-10 | Lowe Robert Ferrall III | Grant | 9.9K | — |
| 2025-02-10 | Hellman Thomas Jeffrey | Grant | 18K | — |
| 2025-02-10 | Gaspar Clay M | Tax withheld | 14K | $34.26 |
| 2025-02-10 | Gaspar Clay M | Tax withheld | 8.5K | $34.26 |
| 2025-02-10 | Gaspar Clay M | Tax withheld | 3.2K | $34.26 |
| 2025-02-10 | Gaspar Clay M | Tax withheld | 2.8K | $34.26 |
| 2025-02-10 | Gaspar Clay M | Tax withheld | 4.3K | $34.26 |
| 2025-02-10 | Gaspar Clay M | Grant | 93K | — |
| 2025-02-10 | Cashion Tana K | Tax withheld | 6.1K | $34.26 |
| 2025-02-10 | Cashion Tana K | Tax withheld | 2.5K | $34.26 |
| 2025-02-10 | Cashion Tana K | Tax withheld | 1.4K | $34.26 |
| 2025-02-10 | Cashion Tana K | Tax withheld | 1.1K | $34.26 |
| 2025-02-10 | Cashion Tana K | Tax withheld | 1.8K | $34.26 |
| 2025-02-10 | Cashion Tana K | Grant | 20K | — |
| 2025-02-10 | CAMERON DENNIS C | Tax withheld | 7.6K | $34.26 |
| 2025-02-10 | CAMERON DENNIS C | Tax withheld | 3.4K | $34.26 |
| 2025-02-10 | CAMERON DENNIS C | Tax withheld | 1.7K | $34.26 |
| 2025-02-10 | CAMERON DENNIS C | Tax withheld | 1.7K | $34.26 |
| 2025-02-10 | CAMERON DENNIS C | Tax withheld | 2.7K | $34.26 |
| 2025-02-10 | CAMERON DENNIS C | Grant | 30K | — |
| 2025-01-28 | Ritenour Jeffrey L | Grant | 28K | — |
| 2025-01-28 | Muncrief Richard E | Grant | 75K | — |
| 2025-01-28 | Harris David Gerard | Grant | 28K | — |
| 2025-01-28 | Gaspar Clay M | Grant | 33K | — |
| 2025-01-28 | Cashion Tana K | Grant | 14K | — |
| 2025-01-28 | CAMERON DENNIS C | Grant | 17K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-25 | Material agreementDebt obligationOtherExhibits | filing ↗ |
| 2026-06-05 | OtherExhibits | filing ↗ |
| 2026-05-22 | OtherExhibits | filing ↗ |
| 2026-05-21 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-07 | Acquisition/dispositionExec/director change5.03Reg FDExhibits | filing ↗ |
| 2026-05-05 | Shareholder voteExhibits | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-04-24 | Other | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-25 | 0001193125-26-282884 ↗ |
| 8-K | 2026-06-05 | 2026-06-05 | 0001193125-26-259922 ↗ |
| 8-K | 2026-05-22 | 2026-05-22 | 0001193125-26-235632 ↗ |
| 8-K | 2026-05-21 | 2026-05-20 | 0001193125-26-233515 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001193125-26-211971 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-208143 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-206689 ↗ |
| 8-K | 2026-05-05 | 2026-05-04 | 0001193125-26-204738 ↗ |
| 8-K | 2026-04-24 | 2026-04-24 | 0001193125-26-177153 ↗ |
| 10-K/A | 2026-04-21 | 2025-12-31 | 0001104659-26-046005 ↗ |
| 8-K | 2026-04-10 | 2026-04-10 | 0001193125-26-151250 ↗ |
| 8-K | 2026-04-02 | 2026-04-01 | 0001193125-26-140060 ↗ |