Devon Energy Corp (DVN) – Investment Analysts’ Recent Ratings Updates
Devon Energy Corp (NYSE: DVN) received a number of ratings updates from brokerages and research firms in the last week:
- Devon Energy Corp had its price target raised by analysts at Credit Suisse from $80.00 to $90.00.
- Devon Energy Corp is now covered by analysts at Wells Fargo & Co.. They set a “buy” rating and a $100.00 price target on the stock. They wrote, “After several months with the stock under review, we resume coverage of Devon after a number of changes that have transformed the investment case by introducing a series of options that immediately reposition DVN as a competitive E&P within the large cap US oils. Versus our initial positive view in early 2013, management has surpassed our expectations: this starts with EnLink, providing a public marker for a previously overlooked midstream business, but with options to monetize retained interests at an accretive multiple. “Critically, when adjusted for the value of its public holdings, we believe DVN stands on the lowest multiple in the sector.”
- Devon Energy Corp had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $87.00 price target on the stock, up previously from $79.00.
- Devon Energy Corp is now covered by analysts at Bank of America. They set a “buy” rating and a $100.00 price target on the stock.
- Devon Energy Corp had its price target raised by analysts at Argus from $80.00 to $88.00. They now have a “buy” rating on the stock.
Devon Energy Corp (NYSE:DVN) remained flat at $78.12 during trading on Wednesday. 2,798,271 shares of the company’s stock traded hands. Devon Energy Corp has a one year low of $51.66 and a one year high of $78.32. The stock’s 50-day moving average is $73.13 and its 200-day moving average is $65.68. The company has a market cap of $31.865 billion and a price-to-earnings ratio of 19.20.
Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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