Devon Energy (NYSE: DVN) reported first-quarter 2026 financial and operational results and provided a second-quarter 2026 outlook on May 5, 2026. The company said earnings materials, supplemental tables, guidance and presentation are available via its Investor Relations website at www.devonenergy.com.
Devon will hold a first-quarter conference call on Wednesday, May 6, 2026 at 10:00 a.m. Central (11:00 a.m. ET) for analyst and investor Q&A.
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Key Figures
Authorized common shares:2,000,000,000 sharesPrior authorized common:1,000,000,000 sharesOutstanding common stock:621,437,123 shares+5 more
8 metrics
Authorized common shares2,000,000,000 sharesPost-approval increase tied to Coterra merger
Outstanding common stock621,437,123 sharesAs of March 31, 2026 (Form S-3ASR)
Preferred share authorization4,500,000 sharesPlanned authorization level in shelf prospectus
Coterra exchange ratio0.70 sharesDevon shares issued per Coterra share in all-stock merger
Estimated stock consideration$23,386 millionBased on 759.3M Coterra shares and $44.00 DVN price
New shares to be issued531.5 million sharesEstimated Devon shares issued in Coterra merger
Pro forma net earnings$3,768 million2025 net earnings attributable to Devon, combined company
Market Reality Check
Price:$51.30Vol:Volume 9,660,849 vs 20-da...
normal vol
$51.30Last Close
VolumeVolume 9,660,849 vs 20-day average 12,158,028, indicating below-average trading activity ahead of the earnings release.normal
TechnicalShares at $51.30 are trading above the 200-day moving average of $38.67 and sit close to the 52-week high of $52.71.
Peers on Argus
DVN was up 1.38% while the momentum scanner only flagged one peer (EOG) moving d...
1 Down
DVN was up 1.38% while the momentum scanner only flagged one peer (EOG) moving down, and broader peers showed a mix of modest gains and small losses, suggesting a stock-specific setup into earnings rather than a clear sector-wide move.
Devon Q4 and full-year 2025 results plus fixed dividend and 2026 outlook.
Pattern Detected
Recent Devon-related headlines, including merger steps and prior earnings, have generally seen price moves that track the tone of the news, with no clear pattern of sharp divergences.
Recent Company History
Over the last six months, Devon’s news flow has centered on its combination with Coterra and regular earnings disclosures. A Feb. 17, 2026 release covered Q4 and full-year 2025 results plus a fixed dividend and 2026 outlook. Coterra’s Feb. 26, 2026 update highlighted strong 2025 performance and the agreed all-stock merger. Subsequent items detailed the timing of Devon’s Q1 2026 earnings release and activist commentary around the merger. Today’s Q1 2026 results and Q2 outlook continue this sequence of operational updates within the broader merger transition.
Regulatory & Risk Context
Active S-3 Shelf
Shelf Active
Active S-3 Shelf Registration
2026-04-10
Devon has an effective Form S-3ASR shelf registration dated April 10, 2026, allowing it to offer common stock, preferred stock, depositary shares, warrants, debt securities, stock purchase contracts and stock purchase units from time to time. The prospectus ties the shelf to the planned all-stock merger with Coterra, noting 621,437,123 common shares outstanding as of March 31, 2026 and a potential increase in authorized common shares to 2.0 billion and preferred shares to 4.5 million, subject to stockholder approval already obtained in early May.
Market Pulse Summary
This announcement delivers Q1 2026 financial and operational results plus a Q2 outlook, following ea...
Analysis
This announcement delivers Q1 2026 financial and operational results plus a Q2 outlook, following earlier guidance and merger-related updates. It also confirms the previously scheduled conference call at 10:00 a.m. Central on May 6, 2026. In the background, Devon has advanced its all-stock merger with Coterra and put an effective S-3ASR in place, alongside approval to increase authorized common shares to 2.0 billion. Investors may track how ongoing merger integration and future capital decisions intersect with these results.
Key Terms
form s-3, s-3asr, shelf registration, form 8-k, +4 more
8 terms
form s-3regulatory
"filed a shelf registration on Form S-3, dated April 10, 2026, to register"
Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.
s-3asrregulatory
"[S-3ASR] DEVON ENERGY CORP/DE SEC Filing"
A Form S-3ASR is a pre-approved registration that lets an eligible public company load a shelf of securities it may sell later without repeating a full regulatory review each time. Think of it like a pre-authorized credit line for issuing stocks or bonds: it gives the company fast, flexible access to raise money, which matters to investors because it can signal financial readiness but also means potential share dilution or swift changes in capital structure.
shelf registrationregulatory
"filed a shelf registration on Form S-3, dated April 10, 2026, to register"
Shelf registration is when a company gets permission ahead of time to sell new stocks or bonds over a period of time instead of all at once. It matters to investors because it lets a company raise money quickly when needed, but it can also change the value of existing shares if many new ones are sold.
form 8-kregulatory
"Devon Energy Corporation filed a Form 8-K supplement providing additional"
A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.
schedule 13gregulatory
"[SCHEDULE 13G] DEVON ENERGY CORP/DE Passive Investment Disclosure (>5%)"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
stock purchase unitsfinancial
"stock purchase contracts and stock purchase units for sale from time to time."
A stock purchase unit is a single item sold or traded that bundles one or more common shares together with other securities or fractions of shares—often combined with rights, warrants or similar instruments—so investors buy the package instead of a lone share. It matters because the package defines what you actually own and how you can trade or profit: like buying a combo meal, the extras can add value or carry future costs and can affect your percentage ownership if more shares are created.
depositary sharesfinancial
"to register common stock, preferred stock, depositary shares, warrants, debt"
Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.
hart-scott-rodinoregulatory
"the Hart-Scott-Rodino waiting period expired at 11:59 p.m. Eastern Time"
The Hart-Scott-Rodino Antitrust Act is a U.S. law that requires companies to notify federal regulators and wait for a review before closing large mergers or acquisitions. Think of it as a required heads-up and cooling-off period so antitrust officials can check whether a deal would unfairly reduce competition; for investors this can delay or block transactions and change the risk, timing, and expected value of corporate deals.
AI-generated analysis. Not financial advice.
OKLAHOMA CITY, May 05, 2026 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the first-quarter 2026. The company also provided a second-quarter 2026 outlook. Devon’s earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com.
The company’s first-quarter conference call will be held at 10:00 a.m. Central time (11:00 a.m. Eastern time) on Wednesday, May 6, 2026, and will serve primarily as a forum for analyst and investor questions and answers.
ABOUT DEVON ENERGY
Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
When did Devon Energy (DVN) report its Q1 2026 results and where can I find the documents?
Devon Energy reported Q1 2026 results on May 5, 2026. According to Devon Energy, earnings release, supplemental tables, guidance and presentation are available on its Investor Relations website at www.devonenergy.com for download and review.
What did Devon Energy (DVN) disclose about Q2 2026 guidance in the May 5, 2026 update?
Devon Energy provided a second-quarter 2026 outlook on May 5, 2026. According to Devon Energy, the outlook details are included in the earnings release and related presentation available on the company's Investor Relations website.
When is Devon Energy's (DVN) Q1 2026 conference call and how can investors participate?
The Q1 2026 conference call is scheduled for May 6, 2026 at 10:00 a.m. Central (11:00 a.m. ET). According to Devon Energy, the call will be a forum for analyst and investor Q&A and information is posted on its Investor Relations site.
Will Devon Energy (DVN) publish supplemental financial tables and an earnings presentation for Q1 2026?
Yes. According to Devon Energy, supplemental financial tables and an earnings presentation accompany the Q1 2026 earnings release and are accessible via the company's Investor Relations website for investors and analysts to review.
How can I access Devon Energy (DVN) Q1 2026 guidance details and supporting materials online?
Access Devon Energy's Q1 2026 guidance and materials at www.devonenergy.com in the Investor Relations section. According to Devon Energy, the site hosts the earnings release, tables, guidance, and the investor presentation for download.
What is the purpose of Devon Energy's Q1 2026 conference call on May 6, 2026 (DVN)?
The conference call will serve primarily as a forum for analyst and investor questions and answers. According to Devon Energy, management will discuss results and respond to investor and analyst queries during the call.
