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Devon Energy's CEO Clay Gaspar unveiled a 'Business Optimization Plan' at the Goldman Sachs Energy Conference, targeting an additional $1 billion in annual pre-tax free cash flow through enhanced operations and reduced capital expenditures. The company has repaid $485 million in debt and is actively executing a $5 billion share repurchase program, while maintaining steady production at 845,000 barrels of oil equivalent per day. Analysts have revised their ratings to 'Outperform' but adjusted price targets downward due to conservative commodity price forecasts.