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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.3 From Wikipedia, 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 19, 2026.

Overview

1971Founded1

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  • 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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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. Jan 29, 2026New chief executive Clay M. Gaspar becomes CEO20
  2. Jan 11, 2021New chief executive Richard E. Muncrief becomes CEO21
  3. Dec 1, 2015New chief executive David A. Hager becomes CEO22
  4. Nov 2, 2010New chief executive John Richels becomes CEO23
  5. Dec 14, 2006New chief executive J. Larry Nichols becomes CEO24
  6. 1971Founded Founded1

Filings

388 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 54 major events, 217 insider forms, 18 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 388 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.

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).

Sources

The numbers on this page point here. Each one links to the record it came from.

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