Devon Energy stock gains 10.4% in buyback-focused week

Devon Energy stock gained 10.35 percent on the NYSE from the close on Friday, November 6, to the close on Friday, November 13. The move framed a week in which investors assessed the company's capital-return plans and its sharpened focus on the Permian Basin.

A Devon Energy shareholder letter dated November 5 said fourth-quarter share repurchases were expected to exceed 1 billion US dollars. Management also said the program should expand further in 2027, supported in part by the planned Eagle Ford asset sale.

Capital moves shape the outlook

Devon said roughly 75 percent of its 2027 capital would be directed to the Permian Basin, up from approximately 63 percent in 2026. The company also plans to repay an additional 1.5 billion US dollars of long-term debt in 2027 and reach a gross-debt target of 9 billion US dollars.

The third-quarter results release dated November 5 said Devon had completed its first full quarter after the Coterra combination. The release also pointed investors to fourth-quarter guidance and the company's initial 2027 outlook.

Devon Energy stock last traded at 42.16 euros on Lang & Schwarz at 11:27 CET on Saturday, November 14.

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