Nov 5, 4:16 PM ET
Devon Energy reported third-quarter 2026 net earnings of $1.0 billion, or $0.88 per diluted share, along with $2.0 billion in adjusted free cash flow. The company raised its year-end 2026 synergy run-rate expectations to approximately $350 million and maintained its full-year guidance while providing an initial 2027 outlook.
- Generated $2.8 billion of operating cash flow and $2.0 billion of adjusted free cash flow in the third quarter of 2026.
- Agreed to sell Eagle Ford assets for $4.2 billion in cash on October 8, 2026, with closing expected in early 2027.
- Returned $1,530 million to shareholders during the quarter through dividends, share repurchases, and debt reduction.
- Raised expected year-end 2026 synergy run rate to approximately $350 million.
Read the filing on SEC.gov ↗
Aug 27, 4:17 PM ET
Devon Energy's Compensation Committee approved a higher base salary and a new restricted stock award for CEO and President Clay M. Gaspar. The salary increase is retroactive to May 7, 2026, the closing date of the Coterra Energy merger, and the stock award is valued at $2.7 million. The filing reports compensation changes only and gives no financial results, so it does not indicate operating performance.
- Base salary raised to an annualized rate of $1,500,000, effective retroactively to May 7, 2026
- Restricted stock award valued at $2,700,000, based on the closing price on the September 10, 2026 grant date
- Stock award vests in three annual installments from the grant date
- Committee approved the changes on August 21, 2026, citing benchmarking data and its consultant's recommendation
Read the filing on SEC.gov ↗
Aug 20, 4:34 PM ET
Devon Energy announced several executive leadership changes effective August 20, 2026, including new Executive Vice Presidents for Exploration & Production and a new Chief Technology Officer. Two former EVPs, John Raines and Michael DeShazer, are leaving the company as of September 1, 2026. The filing does not describe the reasons for the changes or any financial effect, so its direct impact on shareholders is unclear.
- Tom Hellman named EVP, Exploration & Production, covering Anadarko, Eagle Ford, Marcellus and Rockies; previously SVP, New Ventures
- Robert (Trey) Lowe III named EVP, Exploration & Production, covering Permian; previously EVP and Chief Technology Officer
- Kevin Smith named EVP and Chief Technology Officer; previously SVP, Subsurface
- John Raines and Michael DeShazer leaving the company as of September 1, 2026
Read the filing on SEC.gov ↗
Aug 4, 4:11 PM ET
Devon Energy reported second-quarter 2026 net earnings of $1.9 billion, or $2.03 per diluted share, up from $917 million, or $1.41 per diluted share, in the second quarter of 2025, after closing its merger with Coterra Energy on May 7. The company kept its full-year 2026 guidance unchanged and raised its quarterly dividend 33% to $0.32 per share, though the quarter also included $174 million of after-tax restructuring costs.
- Net earnings of $1.9 billion, or $2.03 per diluted share, versus $917 million, or $1.41 per diluted share, in Q2 2025
- Core earnings of $1.5 billion, or $1.57 per diluted share; total revenues of $7.4 billion versus $4.3 billion a year earlier
- Third-quarter 2026 production guidance of 1,660,000 to 1,690,000 Boe per day; full-year 2026 guidance unchanged from June
- Quarterly dividend raised 33% to $0.32 per share, payable Sep. 30, 2026 to holders of record on Sep. 15, 2026
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.