Devon Energy Corporation (DVN) is an independent energy company with a market cap of $31.12 billion. Headquartered in Oklahoma City, Oklahoma, it explores, develops, and produces oil, natural gas, and natural gas liquids (NGLs) across the U.S. The company operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin.
Devon Energy has underperformed the broader market over the last year. The stock has gained 6.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 28.9%. But in 2024, the gap narrowed, with DVN stock rising 8.7%, while the SPX is up 11.1% on a YTD basis.
