Devon Energy Reduces 2020 Capital Spending and Provides Financial Update
Devon Energy Corporation (DVN)
Last devon energy corporation earnings: 2/18 04:05 pm
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US:NYSE Investor Relations:
investors.devonenergy.com/investors/events-presentations/default.aspx
Company Research
Source: GlobeNewswire
OKLAHOMA CITY, March 12, 2020 (GLOBE NEWSWIRE) -- In response to the challenging commodity price environment, Devon Energy (NYSE: DVN) has announced an immediate decrease in capital spending of $500 million for the full-year 2020. The revised capital budget of approximately $1.3 billion represents a decline of nearly 30 percent compared to its previously announced 2020 capital plan. The $500 million of capital reductions will be diversified across Devon’s portfolio, with the STACK and Powder River Basin assets receiving the most substantial cuts proportionally. To optimize go-forward investment, the company will focus its development activity in the Delaware Basin and Eagle Ford within the economic core of these top-tier plays. The company expects to provide a detailed update to its 2020 guidance in conjunction with first-quarter reporting. “With the challenging industry conditions, we are committed to taking decisive actions to protect our balance sheet and preserve liquidity,” s
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News
- Devon Energy (NYSE:DVN) had its price target raised by analysts at Raymond James Financial, Inc. from $42.00 to $44.00. They now have an "outperform" rating on the stock.MarketBeat
- Devon Energy (NYSE:DVN) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Devon Energy (NYSE:DVN) was upgraded by analysts at Argus to a "strong-buy" rating.MarketBeat
- Devon Energy (NYSE:DVN) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Devon Energy (NYSE:DVN) had its price target raised by analysts at Sanford C. Bernstein from $43.00 to $48.00. They now have an "outperform" rating on the stock.MarketBeat
DVN
Earnings
- 11/5/25 - Beat
DVN
Sec Filings
- 11/24/25 - Form 4
- 11/6/25 - Form 10-Q
- 11/5/25 - Form 8-K
- DVN's page on the SEC website