Devon Energy to See Business Optimization Benefits Earlier Than Expected, RBC Says

MT Newswires Live

May 16, 2025

Devon Energy (DVN) to see benefits of its business optimization earlier than anticipated as its initiatives are "off to a strong start," RBC Capital Markets said in a Thursday note.

According to RBC, one of the biggest catalysts for Devon Energy's shares is hitting its target of $1 billion in pre-tax free cash flow improvement.

"Initially more of the benefits were expected in 2026, but now that is getting pulled forward into 2025," said the investment firm, noting that the company expects to realize more of its target savings in 2025 following the completion of several initiatives.

The optimization benefits are expected to further cut Devon Energy's core break-even point and this comes at an opportune time as "investors are putting increasing value on break-even points and capital efficiency versus building an empire," RBC said.

RBC has a sector perform rating on Devon Energy, with a $40 price target.

Price: 32.97, Change: -0.43, Percent Change: -1.29

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