DEVON ENERGY CORP/DE · Oil and gas

DVN

Moderate riskNext report: Around Nov 4 (est.)

View price ↗

The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 73% in the latest quarter vs a year ago
Profitable, keeps 15% of sales as profit
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 86% to their holdings in the quarter ending June 2026 (1108 bought, 359 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$51.63+0.5% that day

Company value: $56.8B; Share price times all shares
Price vs profit (P/E): 12.3x; You pay about $12 for each $1 of yearly profit
Price vs sales: 2.9x; Company value is 2.9 times a year of sales
Cash vs value: 2%; Cash as a share of company value
Debt vs value: 15%; Debt as a share of company value

From DVN's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$7.4B+73% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $19.7B, up 15% from the 12 months before. Over 5 years, sales grew about 29% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DVN. Starting points are the company's recent numbers.

Sales growth+15% a yearRecently: +15% a yearProfit margin17%Last 12 months: 16.7%P/E at the end12xToday: 12.3x. Many steady companies trade at 12x to 25xShare count change-1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$39.6B

Profit in 5 years$6.7B

Price these guesses point to$77.18+49% vs $51.63 todayAbout +8.4% a year, before dividends

What today's price needs: with a 17% margin and a 12x P/E, sales would have to grow about 6.1% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

4/6Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.17.6%
MissDebt under half of equityNot relying on borrowed money.0.54x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.15.4%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$6.7B
PassShare count not growingNot diluting owners. Falling means buybacks.-3.1% in 3 years

Revenue: $17.2B; +7.8% vs prior year
5-year growth: +28.9%/yr; revenue, per year
Total debt: $8.4B; 0.54x equity
Current ratio: 0.98x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 4

Revenue: $7.4B; +73.1% YoY
EPS: $2.03; vs $1.41
Free cash flow: $2.4B
Share count: +47.8%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.5
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+85.6%

Institutions added 85.6% to their holdings. 1108 bought, 359 sold. 4 quarters of net buying in a row.

Shares held by institutions1.02B

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+19.7%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.3x · $11.4B debt

Shares outstandingLatest reported

1.1B

Why moderate risk

Share count growing 19.7% a year (dilution)
1 offering filing in 6 months (may sell new shares)

Earnings reports

Last 12

Next reportAround Nov 4 (est.)Estimated from the same quarter last year

Results filedAug 4
Results filedMay 5
Results filedFeb 17
Results filedNov 5, 2025
Results filedAug 5, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New 5%+ holder (passive)Aug 13 · View filing ↗Big holder 5%+ holder update (passive)Jul 31 · View filing ↗Big holder Offering prospectusJun 5 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Investor disclosureOct 8 · Form 8-K ↗SDSep 23 · Form SD ↗Planned insider saleSep 14 · Form 144 ↗Planned insider saleSep 14 · Form 144 ↗

SoldRobert Ferrall Iii LoweEVP EXPLORATION & PRODUCTION

6,756 shares at $50.95 · $344K

-9% of holdings
Now owns 72,720 shares
Not a pre-planned sale
Filed same day

Sep 14Form 4 ↗

BoughtClay M GasparPRESIDENT AND CEO, Director

3,913 shares at $51.08 · $200K

+1% of holdings
Now owns 619,152 shares
Filed same day
Also: Stock award

Sep 14Form 4 ↗

Leadership changeAug 27 · Form 8-K ↗N-PXAug 26 · Form N-PX ↗New insiderAug 25 · Form 3 ↗New insiderAug 25 · Form 3 ↗Planned insider saleAug 24 · Form 144 ↗Leadership changeAug 20 · Form 8-K ↗13F-HRAug 13 · Form 13F-HR ↗New 5%+ holder (passive)Aug 13 · Form SCHEDULE 13G ↗Quarterly reportAug 5 · Form 10-Q ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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