Devon Energy Completes Merger and Integration With Coterra

The latest announcement is out from Devon Energy ( (DVN) ).

On May 7, 2026, Devon Energy completed its previously announced merger with Coterra Energy, exchanging each Coterra common share for 0.70 shares of Devon and cash in lieu of fractional shares, and treating Coterra equity awards under the agreed merger terms. Devon has filed unaudited pro forma combined financial statements, prepared using the acquisition method with Devon as the accounting acquirer, to illustrate the impact of the transaction on its balance sheet and results, though these statements are preliminary, exclude projected synergies and potential regulatory effects, and may change materially as final fair-value valuations of Coterra’s assets and liabilities are completed.

The most recent analyst rating on (DVN) stock is a Buy with a $54.00 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 Neutral.

The score is supported primarily by strong earnings-call execution and shareholder-return/synergy catalysts, alongside generally solid profitability and manageable leverage. Offsetting these positives are uneven free-cash-flow consistency and a very high P/E, while technicals are neutral with near-term softness but longer-term trend support.

To see Spark’s full report on DVN stock, click here.

More about Devon Energy

Devon Energy Corporation is a Delaware-based independent energy company engaged in the exploration, development and production of oil and natural gas. Following its all-stock transaction with Coterra Energy Inc., Coterra now operates as a direct, wholly owned subsidiary of Devon, expanding Devon’s scale in the upstream U.S. energy sector and diversifying its asset base.

Average Trading Volume: 15,481,443

Technical Sentiment Signal: Buy

Current Market Cap: $55.87B

See more data about DVN stock on TipRanks’ Stock Analysis page.