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Devon Energy

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons6

American energy company

Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with headquarters in Houston, Texas. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains (Williston Basin and Powder River Basin).3 It was founded by J. Larry Nichols.1 It employed 5,900 people in 2013.1 Its revenue was $19.2 billion in 2022.1 Its shares trade on NYSE under the symbol DVN.1 Wikipedia text CC BY-SA 4.0

$50.67 up 1.43 (2.90%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 21, 2026.

Overview

1971Founded1

Compare with Diamondback Energy, Pioneer Natural Resources or Occidental Petroleum, or pick any stock.

  • TickerDVN on NYSE1
  • Industrypetroleum industry1
  • HeadquartersOklahoma City1
  • Websitewww.devonenergy.com
  • Legal formDelaware corporation1
  • Incorporated inDE7
  • Business addressThree Memorial City Plaza, 840 Gessner Road, Suite 1400, Houston, Tx 770247
  • Filer categoryLarge accelerated filer7
  • LEI54930042348RKR3ZPN354
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 30441044

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Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with headquarters in Houston, Texas. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains (Williston Basin and Powder River Basin).3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

15.7%Net margin10
5.4%Revenue growth, 202510
17.0%Return on equity10
0.48×Debt to equity10

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Oil Gas And NGL Sales brought in 67% of the revenue Devon Energy broke down this way in fiscal 2025.

  1. Oil Gas And NGL Sales$11.2B1067%up 0% from 2024
  2. Marketing And Midstream Revenues$5.6B1033%up 17% from 2024
Products and services by year
Products and services202320242025
Oil Gas And NGL Sales$10.8B$11.2B$11.2B
Marketing And Midstream Revenues$4.3B$4.7B$5.6B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs80¢$13.4B
  • Income tax5¢$785.0M
  • Profit16¢$2.6B

Out of $16.8B in revenue.10

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid5¢$319.0M
  • Share buybacks16¢$1.1B
  • Kept or used elsewhere80¢$5.3B

Out of $6.7B of cash from operations.1011

Financial statements

Revenue1213141510$16.8B in 2025+152% since 2019
0$5.0B$10.0B$15.0B$20.0B2019: $6.7B$6.7B20192020: $4.7B$4.7B2020−30%2021: $13.8B$13.8B2021+194%2022: $19.8B$19.8B2022+44%2023: $15.1B$15.1B2023−24%2024: $15.9B$15.9B2024+5%2025: $16.8B$16.8B2025+5%
Net income1213141610$2.6B in 2025
-$5.0B-$2.5B0$2.5B$5.0B$7.5B2019: -$355.0M-$355.0M20192020: -$2.7B-$2.7B2020+655%2021: $2.8B$2.8B20212022: $6.0B$6.0B2022+114%2023: $3.7B$3.7B2023−38%2024: $2.9B$2.9B2024−23%2025: $2.6B$2.6B2025−9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Oil, gas and NGL sales$16.8B$15.9B$15.1B
Oil, gas and NGL derivatives$402.0M$21.0M$118.0M
Total revenues$17.2B$15.9B$15.3B
Production expenses$3.6B$3.2B$2.9B
Exploration expenses$43.0M$28.0M$20.0M
Depreciation, depletion and amortization$3.6B$3.3B$2.6B
Asset impairment$254.0M$0$0
Asset dispositions-$343.0M$11.0M-$30.0M
General and administrative expenses$492.0M$500.0M$408.0M
Financing costs, net$455.0M$363.0M$308.0M
Other, net$24.0M$96.0M$38.0M
Total expenses$13.7B$12.2B$10.6B
Earnings before income taxes$3.5B$3.7B$4.6B
Income tax expense$785.0M$770.0M$841.0M
Net earnings$2.7B$2.9B$3.8B
Net earnings attributable to noncontrolling interests$39.0M$51.0M$35.0M
Net earnings attributable to Devon$2.6B$2.9B$3.7B
Basic net earnings per share$4.18$4.58$5.86
Diluted net earnings per share$4.17$4.56$5.84
Pension and postretirement plans$0$2.0M-$8.0M
Other comprehensive earnings (loss), net of tax$0$2.0M-$8.0M
Comprehensive earnings:$2.7B$2.9B$3.8B
Comprehensive earnings attributable to noncontrolling interests$39.0M$51.0M$35.0M
Comprehensive earnings attributable to Devon$2.6B$2.9B$3.7B

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Corporate structure

Devon Energy sits at the top of its group. 8 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Devon Energy

  • Devon Energy Houston, Texas, United States
    • Coterra Energy Houston, Texas, United States
    • Fervo Energy Co Stake · Houston, Texas
    • DEVON CANADA CORPORATION Subsidiary · Calgary, Alberta, Canada
    • Devon Energy (Canada) Subsidiary · Canada
    • DEVON ENERGY PRODUCTION COMPANY, L.P. Subsidiary · Houston, Texas, United States
    • DEVON GAS SERVICES, L.P. Subsidiary · Houston, Texas, United States
    • WPX ENERGY PERMIAN, LLC Subsidiary · Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Devon Energy reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$25.4B10 Dec 31, 2025$25.0B10 Dec 31, 2024+1.6%
Finance-lease assets$23.0M10 Dec 31, 2025$248.0M10 Dec 31, 2024−90.7%
Operating-lease assets (leased space)$276.0M10 Dec 31, 2025$55.0M10 Dec 31, 2024+401.8%
Oil and gas properties$23.7B10 Dec 31, 2025$23.2B10 Dec 31, 2024+2.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.4B10 Dec 31, 2025$811.0M10 Dec 31, 2024+70.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$753.0M10 Dec 31, 2025$753.0M10 Dec 31, 20240%

Inventory

ItemLatestA year beforeChange
Inventory, total$336.0M10 Dec 31, 2025$294.0M10 Dec 31, 2024+14.3%

The story

Founded by J. Larry Nichols in 1971.1

Devon was founded in 1971 by John Nichols (1914-2008) and his son, J. Larry Nichols. In 1988, the company became a public company via an initial public offering.

In October 2012, the company completed construction of its current headquarters, the 50-story Devon Energy Center in Oklahoma City, Oklahoma and closed its office in the Allen Center in Downtown Houston.

In February 2016, Devon announced plans to lay off 1,000 employees, including 700 in Oklahoma City, and cut its quarterly dividend to $0.06 per share due to low prices of its products. In 2021, it instituted a fixed plus variable dividend structure that resulted in a record high dividend.

In November 2019, a blowout at a Devon natural gas well prompted authorities to seal off thousands of acres of land near the Eagle Ford Shale towns of Yorktown, Texas and Nordheim, Texas until the well was capped. It took 35 hours to get the issue under control. The company paid $48,750 in fines for the incident.

In September 2021, the company agreed to pay $6.15 million to resolve allegations that it violated the False Claims Act of 1863 by underpaying and underreporting royalties for natural gas from federal lands in Wyoming and New Mexico.

Met with pressure to enhance performance and consider asset sales by Kimmeridge Energy Management, which had gained a stake in late 2025; in 2026, a second activist investor, Toms Capital Investment ‌Management, acquired a significant stake in the company, while advocating for faster asset sales.

CEOs

J. Larry Nichols (1980-2010)

John Richels (2010-2015)

Read the full text

Dave Hager (2015-2021)

Rick Muncrief (2021-2025)

Clay Gaspar (2025-)

From Wikipedia’s article on Devon Energy, shared under CC BY-SA 4.0.8

Leadership

Who has led Devon Energy, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. J. Larry Nichols2006–2009
  2. John Richels2010–2015
  3. David A. Hager2015–2021
  4. Richard E. Muncrief2021–2025
  5. Clay M. Gaspar2026–now

Chair

  1. J. Larry Nichols2006–2012
  2. David A. Hager2021–2022

President

  1. John Richels2006–2015
  2. David A. Hager2015–2021
  3. Richard E. Muncrief2021–2025
  4. Clay M. Gaspar2026–now

Chief financial officer

  1. Brian J. Jennings2006
  2. Jeffrey A. Agosta2010–2013
  3. Thomas L. Mitchell2014–2017
  4. Jeffrey L. Ritenour2017–2026
  5. Shannon E. Young Iii.2026–now

Chief operating officer

  1. David A. Hager2013–2015
  2. Tony D. Vaughn2016–2019
  3. Clay M. Gaspar2021–2025
19801990200020102020
Board members and other officers (56)

Products and brands

  • petroleum

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

  • Devon Energy (Canada)

Subsidiaries (GLEIF)

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Employees over time

  • 20135,9001

Former names

  • DEVON ENERGY CORPNov 12, 1999 to May 31, 20007
  • DEVON DELAWARE CORPAug 19, 1999 to Aug 16, 19997

Timeline

  1. Oct 8, 20268-K Regulation FD disclosure; Other events89
  2. Aug 27, 20268-K Executive or director change90
  3. Aug 20, 20268-K Executive or director change91
  4. Aug 4, 20268-K Results of operations92
  5. Jun 30, 20268-K Shareholder vote93
  6. Jun 25, 20268-K Entered a material agreement; New debt or obligation; Other events94
  7. Jun 5, 20268-K Other events95
  8. May 22, 20268-K Other events96
  9. May 21, 20268-K Regulation FD disclosure; Other events97
  10. May 7, 20268-K Completed an acquisition or sale; Executive or director change; Bylaws or fiscal year changed98
  11. May 5, 20268-K Shareholder vote99
  12. May 5, 20268-K Results of operations100
  13. Jan 29, 2026New chief executive Clay M. Gaspar becomes CEO20
  14. Jan 11, 2021New chief executive Richard E. Muncrief becomes CEO21
  15. Dec 1, 2015New chief executive David A. Hager becomes CEO22
  16. Nov 2, 2010New chief executive John Richels becomes CEO23
  17. Dec 14, 2006New chief executive J. Larry Nichols becomes CEO24
  18. 1971Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.04 a share, on Nov 5, 2025.101

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results92
  2. May 5, 2026Reported quarterly or annual results100
  3. Feb 17, 2026Reported quarterly or annual results102
  4. Nov 5, 2025Reported quarterly or annual results103
  5. Aug 5, 2025Reported quarterly or annual results104
  6. May 6, 2025Reported quarterly or annual results105
  7. Feb 18, 2025Reported quarterly or annual results106
  8. Nov 5, 2024Reported quarterly or annual results107

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

389 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 54 major events, 217 insider forms, 19 large holders, 78 other. The latest 20:

  1. Oct 8, 20268-K EDGAR
  2. Sep 23, 2026SD EDGAR
  3. Sep 14, 2026144 EDGAR
  4. Sep 14, 2026144 EDGAR
  5. Sep 14, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 14, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 27, 20268-K EDGAR
  8. Aug 26, 2026N-PX EDGAR
  9. Aug 25, 20263 PRIMARY DOCUMENT EDGAR
  10. Aug 25, 20263 PRIMARY DOCUMENT EDGAR
  11. Aug 24, 2026144 EDGAR
  12. Aug 20, 20268-K EDGAR
  13. Aug 13, 202613F-HR EDGAR
  14. Aug 5, 202610-Q EDGAR
  15. Aug 4, 20268-K EDGAR
  16. Aug 4, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 31, 2026SCHEDULE 13G/A EDGAR
  18. Jul 28, 2026144 EDGAR
  19. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  20. Jul 2, 20264 PRIMARY DOCUMENT EDGAR

The 389 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

37 open-market trades by officers, directors and large owners since October 2021: 7 buys and 30 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026Gaspar Clay MPRESIDENT AND CEOBuy3,913$51.08$199.9KForm 4
Sep 14, 2026Lowe Robert Ferrall IIIEVP EXPLORATION & PRODUCTIONSale6,756$50.95$344.2KForm 4
Jun 10, 2026Alexander AndreaSVP & CHIEF ADMIN OFFICERSale18,000$46.74$841.3KForm 4
May 14, 2026Vela Adam MSVP & GENERAL COUNSELSale24,342$47.21$1.1MForm 4
May 11, 2026Ritenour Jeffrey LEVP & CHIEF CORP DEV OFFICERSale70,029$46.66$3.3MForm 4
Aug 11, 2025KINDICK KELTDirectorSale7,685$33.46$257.1KForm 4
May 7, 2024Cashion Tana KEVP Human Resources and AdminSale20,000$51.04$1.0MForm 4
Mar 4, 2024Muncrief Richard EPresident and CEOBuy15,000$44.42$666.3KForm 4
Aug 4, 2023CAMERON DENNIS CEVP and General CounselSale7,870$51.13$402.4KForm 4
May 5, 2023CAMERON DENNIS CEVP and General CounselSale8,292$49.97$414.4KForm 4
Mar 14, 2023Muncrief Richard EPresident and CEOBuy7,500$50.30$377.2KForm 4
Mar 14, 2023Gaspar Clay MPRESIDENT AND CEOBuy20,000$49.98$999.6KForm 4
Feb 22, 2023Muncrief Richard EPresident and CEOBuy5,000$53.00$265.0KForm 4
Feb 17, 2023BETHANCOURT JOHN EDirectorBuy4,706$53.05$249.7KForm 4
Feb 17, 2023Muncrief Richard EPresident and CEOBuy10,000$53.28$532.8KForm 4
Feb 17, 2023CAMERON DENNIS CEVP and General CounselSale7,179$54.77$393.2KForm 4
Nov 9, 2022CAMERON DENNIS CEVP and General CounselSale5,557$70.48$391.7KForm 4
Oct 3, 2022CAMERON DENNIS CEVP and General CounselSale4,158$63.21$262.8KForm 4
Jul 5, 2022CAMERON DENNIS CEVP and General CounselSale4,537$53.55$243.0KForm 4
Jun 14, 2022Williams ValerieDirectorSale7,000$69.67$487.7KForm 4

All 37 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Devon Energy has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Clay M. GasparPresident and Chief Executive Officer$938.1K$12.6M116
2025Jeffrey L. RitenourExecutive Vice President and Chief Financial Officer$731.4K$6.4M116
2025David G. HarrisFormer Executive Vice President and Chief Corporate Development Officer$111.6K$5.4M116
2025Dennis C. CameronExecutive Vice President and General Counsel$655.6K$4.7M116
2025Tana K. CashionExecutive Vice President Human Resources and Administration$479.8K$3.2M116
2025John D. RainesSenior Vice President E&P Asset Management$466.0K$2.8M116
2025Richard E. MuncriefFormer President and Chief Executive Officer$400.0K$857.3K116
2024Richard E. MuncriefFormer President and Chief Executive Officer$1.3M$17.0M116
2024Clay M. GasparPresident and Chief Executive Officer$703.3K$7.0M116
2024David G. HarrisFormer Executive Vice President and Chief Corporate Development Officer$701.6K$6.5M116
2024Jeffrey L. RitenourExecutive Vice President and Chief Financial Officer$703.3K$6.5M116
2024Dennis C. CameronExecutive Vice President and General Counsel$620.3K$4.7M116
2024Tana K. CashionExecutive Vice President Human Resources and Administration$465.2K$3.3M116
2023Richard E. MuncriefFormer President and Chief Executive Officer$1.2M$14.9M116
2023Clay M. GasparPresident and Chief Executive Officer$674.4K$6.3M116
2023David G. HarrisFormer Executive Vice President and Chief Corporate Development Officer$663.5K$5.7M116
2023Jeffrey L. RitenourExecutive Vice President and Chief Financial Officer$674.4K$5.7M116
2023Dennis C. CameronExecutive Vice President and General Counsel$584.6K$4.2M116
2023Tana K. CashionExecutive Vice President Human Resources and Administration$446.9K$3.0M116

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.95,378,854$3.9B0.1%+34,871,366
Vanguard Capital Management LLC75,348,040$3.1B0.1%+35,019,913
State Street Corp73,179,266$3.0B0.1%+34,615,088
Vanguard Portfolio Management LLC57,263,240$2.4B0.1%+22,926,454
Wellington Management Group Llp51,522,376$2.1B0.4%+41,581,435
Charles Schwab Investment Management Inc38,323,956$1.6B0.2%+19,152,103
Geode Capital Management, LLC30,520,177$1.3B0.1%+13,768,578
Davis Selected Advisers25,297,991$1.0B4.5%New
Invesco Ltd.24,148,878$997.8M0.1%+5,194,217
Morgan Stanley23,513,769$971.6M0.1%+11,786,920
Victory Capital Management Inc16,992,378$702.1M0.4%+7,860,036
Dimensional Fund Advisors LP16,907,374$698.7M0.1%+7,301,243
D. E. Shaw & Co., Inc.12,044,728$497.7M0.3%+8,210,181
Northern Trust Corp11,126,837$459.8M0.1%+5,124,613
Goldman Sachs Group Inc10,925,640$451.4M0.0%+5,637,186
TOMS Capital Investment Management LP10,259,000$423.9M22.4%New
Bank Of America Corp /de/10,194,233$421.2M0.0%+3,979,875
GQG Partners LLC9,742,444$402.6M0.7%−6,427,901
Bank of New York Mellon Corp9,628,124$397.8M0.1%+5,573,172
Citadel Advisors LLC8,870,747$366.5M0.2%+6,852,573
Jpmorgan Chase & Co8,719,666$366.1M0.0%+4,663,597
Millennium Management LLC8,477,202$350.3M0.2%+7,483,100
Adage Capital Partners Gp, L.l.c.8,448,385$349.1M0.5%+7,607,191
Qube Research & Technologies Ltd7,737,766$319.7M0.4%+5,467,063
Egerton Capital (UK) LLP7,558,060$312.3M3.0%+1,032,920

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

59 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 23, 2026Kevin HernRepublican, HouseSale$50,001 - $100,000−5.1%Report
Sep 23, 2026Kevin HernRepublican, HousePartial sale$15,001 - $50,000−5.1%Report
Sep 14, 2026Kevin HernRepublican, HousePartial sale$15,001 - $50,000−0.6%Report
Sep 4, 2026Kevin HernRepublican, HousePartial sale$100,001 - $250,000−5.3%Report
Aug 31, 2026Kevin HernRepublican, HouseSale$15,001 - $50,000−4.0%Report
Aug 31, 2026Kevin HernRepublican, HousePartial sale$100,001 - $250,000−4.0%Report
May 8, 2026Kevin HernRepublican, HouseExchange$15,001 - $50,000Report
May 8, 2026Kevin HernRepublican, HouseExchange$15,001 - $50,000Report
Apr 9, 2026John BoozmanRepublican, SenateBuy$1,001 - $15,000−7.6%Report
Mar 24, 2026Alan ArmstrongRepublican, SenateSale$50,001 - $100,000+17.2%Report
Dec 8, 2025Julia LetlowRepublican, HouseBuy$1,001 - $15,000+22.1%Report
May 12, 2025Jefferson ShreveRepublican, HouseSale$15,001 - $50,000−18.8%Report
May 8, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000+22.3%Report
May 5, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+28.7%Report
Apr 9, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+22.6%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseBuy$1,001 - $15,000+33.8%Report
Apr 7, 2025Jefferson ShreveRepublican, HouseSale$15,001 - $50,000−24.3%Report
Feb 24, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000+6.7%Report
Feb 12, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+21.4%Report
Jan 21, 2025Marjorie Taylor GreeneRepublican, HouseBuy$1,001 - $15,000+10.1%Report
Dec 31, 2024Kevin HernRepublican, HousePartial sale$250,001 - $500,000−23.3%Report
Jun 28, 2024Kevin HernRepublican, HouseBuy$1,001 - $15,000−34.8%Report
Jun 28, 2024Kevin HernRepublican, HouseBuy$1,001 - $15,000−34.8%Report
Mar 28, 2024Kevin HernRepublican, HouseBuy$15,001 - $50,000−46.5%Report
Mar 28, 2024Kevin HernRepublican, HouseBuy$1,001 - $15,000−46.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Devon Energy is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDEVON ENERGY CORP/DE2
  • CIK0001090012
  • Employer ID (EIN)73-1567067117
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company117
  • Incorporated inDelaware117
  • Fiscal year endsDecember 312
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business addressThree Memorial City Plaza, 840 Gessner Road, Suite 1400, Houston, TX 770242
  • Phone40555233332
  • Shares outstanding1,100,000,000 as of Jul 22, 202611
  • Public float$20.2B as of Jun 30, 2025117
  • AuditorKPMG LLP, Oklahoma City, Oklahoma PCAOB ID 185; it also attests to the company’s internal control over financial reporting117
  • On EDGAR sinceJul 15, 19992
  • Filings2,192 in all: 4 (1,111), 8-K (322), 10-Q (81), 425 (80), 3 (61), SC 13G/A (45), 13F-HR (39), CORRESP (33)2
    All 65 form types

    UPLOAD (32), DEF 14A (27), 424B3 (25), 10-K (24), DEFA14A (24), 4/A (20), SC 13G (19), 11-K (16), 144 (16), SC 13D/A (15), S-8 (13), 5 (12), ARS (12), NO ACT (10), PX14A6G (10), 8-K/A (9), S-4/A (9), SC 13D (9), 424B5 (8), FWP (8), S-4 (8), S-3 (7), S-3ASR (7), 424B2 (6), S-3/A (6), S-8 POS (6), PRE 14A (5), SCHEDULE 13G/A (5), 424B7 (4), EFFECT (4), 10-K/A (3), 10-K405 (3), 10-Q/A (3), 3/A (3), SCHEDULE 13G (3), SD (3), 25-NSE (2), D (2), DEFR14A (2), POSASR (2), SEC STAFF LETTER (2), 10-K405/A (1), 11-K/A (1), 15-12B (1), 424A (1), 424B1 (1), 8-A12B (1), 8-K12G3 (1), CERTNYS (1), CT ORDER (1), DEFM14A (1), N-PX (1), NT 11-K (1), NT 11-K/A (1), POS AM (1), S-3MEF (1), SD/A (1)

  • Latest filingsAnnual report (10-K) Feb 18, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) May 28, 2026
    Latest 8-K (8-K) Oct 8, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.10 per shareDVNThe New York Stock Exchange

From the cover page of the 10-K filed Feb 18, 2026 (Section 12(b) of the Exchange Act).117

Risk factors and legal proceedings

The risks Devon Energy names in Item 1A of its 10-K filed Feb 18, 2026: 21 risks under these headings, as written.117

  • Risks Related to Our Industry
  • Volatile Oil, Gas and NGL Prices Significantly Impact Our Business
  • Estimates of Oil, Gas and NGL Reserves Are Uncertain and May Be Subject to Revision
  • Discoveries or Acquisitions of Reserves Are Needed to Avoid a Material Decline in Reserves and Production, and Such Activities Are Capital Intensive
  • Our Operations Are Uncertain and Involve Substantial Costs and Risks
  • Our Hedging Activities Limit Participation in Commodity Price Increases and Involve Other Risks
  • We Have Limited Control Over Properties and Investments Operated by Others or through Joint Ventures
  • Midstream Capacity Constraints and Interruptions Impact Commodity Sales
  • Competition for Assets, Materials, People and Capital Can Be Significant
  • Legal, Regulatory and Environmental Risks
  • We Are Subject to Extensive Governmental Regulation, Which Can Change and Could Adversely Impact Our Business
  • Climate Change and Related Regulatory, Social and Market Actions May Adversely Affect Our Business
The other 12 risks
  • Our Environmental Performance Targets and Other Sustainability Initiatives May Expose Us to Risks
  • Claims, Litigation, Audits and Other Proceedings, Including Relating to Historic and Legacy Operations, May Adversely Impact Us
  • Price Controls, Export Restrictions and Other Governmental Interventions in Energy Markets May Adversely Impact Our Business
  • Risks Relating to the Merger
  • We May Fail to Realize the Anticipated Benefits of the Merger, and Any Failure to Successfully Integrate the Businesses and Operations of Devon and Coterra May Adversely Affect Our Future Results
  • We Are Subject to Certain Restrictions in the Merger Agreement That May Hinder Operations Pending the Consummation of the Merger, and We May Be the Target of Securities Class Action and Derivative Lawsuits as a Result of the Merger
  • The Merger Agreement Could Be Terminated, Which Could Negatively Impact Us
  • General and Other Risks Facing Our Business
  • The Credit Risk of Our Counterparties Could Adversely Affect Us
  • Our Debt May Limit Our Liquidity and Financial Flexibility, and Any Downgrade of Our Credit Rating Could Adversely Impact Us
  • Cybersecurity Incidents May Adversely Impact Our Operations
  • We Face Risks Associated with Artificial Intelligence and Other Emerging Technologies
  • Insurance Does Not Cover All Risks
  • Activist Shareholders Could Cause Us to Incur Significant Expense, Hinder Execution of our Business Strategy and Impact Our Stock Price
  • Our Acquisition and Divestiture Activities Involve Substantial Risks
  • Our Ability to Declare and Pay Dividends and Repurchase Shares Is Subject to Certain Considerations

Legal proceedings

We are involved in various legal proceedings incidental to our business. However, to our knowledge as of the date of this report and subject to the environmental matters noted below, there were no material pending legal proceedings to which we are a party or to which any of our property is subject. For more information on our legal contingencies, see Note 18 in “Item 8. Financial Statements and Supplementary Data” of this report.

Environmental Matters

Devon has elected to use a $1 million threshold for disclosing certain proceedings arising under federal, state or local environmental laws when a governmental authority is a party. Devon believes proceedings under this threshold are not material to Devon’s business, financial condition and results of operations.

The opening of Item 3, Legal Proceedings.117

Sources

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