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Devon Energy ( (DVN) ) has issued an update.
Devon Energy said that on February 1, 2026 it entered into a merger agreement under which its wholly owned subsidiary will merge with Coterra Energy Inc., leaving Coterra as a wholly owned subsidiary of Devon. The deal is expected to strengthen Devon’s upstream footprint by combining two sizable U.S. oil and gas producers, furthering the consolidation trend in the sector and potentially enhancing scale and operating efficiencies for shareholders.
The companies reported that the Hart-Scott-Rodino antitrust waiting period for the transaction expired at 11:59 p.m. Eastern Time on April 1, 2026, satisfying a key U.S. regulatory condition. With the HSR hurdle cleared and a joint proxy statement already mailed following SEC effectiveness of Devon’s Form S-4 in late March 2026, the merger is now slated to close in the second quarter of 2026, pending remaining customary closing conditions and shareholder approvals.
The most recent analyst rating on (DVN) stock is a Buy with a $59.00 price target. To see the full list of analyst forecasts on Devon Energy stock, see the DVN Stock Forecast page.
Spark’s Take on DVN Stock
According to Spark, TipRanks’ AI Analyst, DVN is a Outperform.
The score is driven by solid underlying financial performance (strong margins/cash generation and improved leverage) and a constructive technical uptrend, reinforced by a positive earnings-call outlook highlighting strong free cash flow, disciplined capital plans, and credible synergy targets. The main offsets are commodity-driven cyclicality and uneven free cash flow history, plus near-term overbought technical signals.
To see Spark’s full report on DVN stock, click here.
More about Devon Energy
Devon Energy Corporation is a U.S.-based independent energy company focused on the exploration, development and production of oil, natural gas and natural gas liquids. The company operates primarily in North American shale basins and competes with other upstream producers in the broader oil and gas sector, where consolidation has been reshaping scale, cost structures and capital allocation priorities.
Average Trading Volume: 14,156,634
Technical Sentiment Signal: Buy
Current Market Cap: $30.13B
For an in-depth examination of DVN stock, go to TipRanks’ Overview page.