---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-272434"
form_type: "8-K"
ticker: "DVN"
cik: "0001090012"
company_name: "DEVON ENERGY CORP/DE"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T13:23:48.776108+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Devon Q3 free cash flow doubles to $843M; dividend rises 57% to $0.77/share

## Summary
- Net earnings $910M ($1.42 diluted GAAP EPS); core earnings $1.1B ($1.65 diluted), up 40% QoQ.
- Free cash flow $843M (more than doubled QoQ) on $1.7B operating cash flow; reinvestment rate 52%.
- Dividend declared $0.77/share, up 57% from Q2, payable Dec 29 to holders of record Dec 15.
- Retired $242M debt; cash $761M; net debt/EBITDAX 0.7x. 40M shares repurchased under $3B buyback program.
- Q4 production guidance 640-660 MBoe/d (oil ~315K bbl/d); 2024 capex $3.3-3.6B, down ~10% vs 2023.

## SEC filing metadata
- accession: 0001193125-23-272434
- form_type: 8-K
- ticker: DVN
- cik: 0001090012
- company_name: DEVON ENERGY CORP/DE
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090012/000119312523272434/0001193125-23-272434-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090012/000119312523272434/d564312d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-272434
- JSON: https://secwatch.observer/filing/0001193125-23-272434.json
- Plain text: https://secwatch.observer/filing/0001193125-23-272434.txt

## Key facts
- Earnings Releases
  DEVON ENERGY CORP/DE reported third quarter of 2023 results: net income $910 million, EPS $1.42 per diluted share. Guidance raised.
  - Period: third quarter of 2023
  - Net income: $910 million
  - EPS: $1.42 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: Devon reported net earnings of $910 million, or $1.42 per diluted share, in the third quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090012/000119312523272434/0001193125-23-272434-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.