Devon Energy initiated with an Outperform at William Blair

William Blair analyst Neal Dingmann initiated coverage of Devon Energy (DVN) with an Outperform rating. The company’s technologies and optimization plan should generate over $1B in annual free cash flow, as artificial intelligence tools, agents, and models boost drilling, completions, and real-time production, the analyst tells investors in a research note. The firm believes Devon may potentially acquire a large upstream company.