Devon Energy Bets on Scale With Coterra Acquisition

Devon Energy logo sign in the foreground with an oil drilling rig and pumpjacks at sunset in the background. Key Points Devon Energy’s all-stock merger with Coterra reflects accelerating consolidation across a maturing U.S. shale industry focused on efficiency over expansion. The combined company gains geographic diversification and scale, but investors are watching closely for dividend sustainability and potential EPS dilution. Analysts have responded positively, with price targets suggesting upside, ...