Scotiabank starts coverage of Devon Energy stock at USD 61.00

Published on 10/15/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Devon Energy agreed to sell Eagle Ford assets for USD 4.20 billion on October 8, 2026. Devon Energy stock costs EUR 44.41 on October 15.

Portfolio review and earnings dates

Devon Energy agreed to sell Eagle Ford assets for USD 4.20 billion on October 8, 2026.
Second-quarter 2026 revenue reached USD 7.42 billion, compared with USD 3.81 billion in the first quarter.
Devon Energy stock traded at EUR 44.41 at 10:37 a.m. CEST at Lang & Schwarz on October 15, 2026.

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Devon Energy stock (ISIN US25179M1036) traded at EUR 44.41 at Lang & Schwarz on October 15, 2026, at 10:37 a.m. CEST. Markets Insider reported on October 14, 2026, that Scotiabank initiated coverage with an Outperform rating and a USD 61.00 price target.

Portfolio review adds a catalyst

Devon Energy had agreed on October 8, 2026, to sell its Eagle Ford assets to Crescent Energy for USD 4.20 billion in cash, according to the Devon Energy release. The assets cover approximately 90,000 net acres and represent approximately 4 percent of Devon's total oil-equivalent production.

The transaction follows Devon's portfolio review and is expected to close around year-end 2026, subject to regulatory approvals and customary closing conditions. The company said proceeds will support share repurchases and debt reduction.

What does the sale mean for capital?

The sale gives Devon Energy a USD 4.20 billion cash inflow against an asset base contributing 4 percent of total production. That mix points to a portfolio-quality argument rather than a volume-growth announcement. In the second quarter of 2026, revenue reached USD 7.42 billion and net income attributable to common shareholders was USD 1.91 billion, compared with USD 3.81 billion and USD 120.00 million respectively in the first quarter.

Three dated Devon milestones

On August 17, 2026, Devon reached a final investment decision on the Solitude Pipeline System, as noted by GlobeNewswire. On October 8, 2026, it announced the USD 4.20 billion Eagle Ford sale. On October 14, 2026, Scotiabank initiated coverage with a USD 61.00 target, according to Markets Insider.

Next dates are November 5 and 6

GlobeNewswire reported on October 7, 2026, that Devon will publish third-quarter 2026 results on November 5, 2026, after the U.S. market close. The company scheduled its conference call for November 6, 2026, at 10:00 a.m. CDT.

Price remains the market reference

Devon Energy's primary listing is on the NYSE, where its stock closed at USD 49.92 on October 14, 2026, while the 52-week range was USD 31.47 to USD 52.71. At Lang & Schwarz, the euro quote stood at EUR 44.41 on October 15, 2026, at 10:37 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Devon Energy stock.