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Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Summary of Purchases of Common Stock The table below provides information regarding purchases of Devon’s common stock under the $5.0 billion share repurchase program (shares in thousands).

 

 

 

Total Number of
Shares Purchased

 

 

Dollar Value of
Shares Purchased

 

 

Average Price Paid
per Share

 

$5.0 Billion Plan

 

 

 

 

 

 

 

 

 

2021

 

 

13,983

 

 

$

589

 

 

$

42.15

 

2022

 

 

11,708

 

 

 

718

 

 

$

61.36

 

2023

 

 

19,350

 

 

 

992

 

 

$

51.23

 

2024:

 

 

 

 

 

 

 

 

 

First quarter

 

 

4,428

 

 

 

193

 

 

$

43.47

 

Second quarter

 

 

5,188

 

 

 

256

 

 

$

49.40

 

Third quarter

 

 

6,675

 

 

 

295

 

 

$

44.23

 

Fourth quarter

 

 

7,653

 

 

 

300

 

 

$

39.22

 

2024 Total

 

 

23,944

 

 

 

1,044

 

 

$

43.61

 

2025:

 

 

 

 

 

 

 

 

 

First quarter

 

 

8,505

 

 

 

301

 

 

$

35.33

 

Total plan

 

 

77,490

 

 

$

3,644

 

 

$

47.02

 
Schedule of Dividends Payable The following table summarizes Devon’s dividends for the first quarter of 2025 and 2024, respectively.

 

 

Dividends

 

 

Rate Per Share

 

2025:

 

 

 

 

 

First quarter

$

163

 

 

$

0.24

 

2024:

 

 

 

 

 

First quarter (1)

$

299

 

 

$

0.44

 
(1)
In the first quarter of 2024, Devon paid a variable dividend of $0.22 per share for a total of $156 million in addition to its fixed dividend.