Brokerage Firm Rating Update on Devon Energy Corporation (DVN)

Devon Energy Corporation (DVN) : The consensus on Devon Energy Corporation (DVN) based on 23 analyst recommendation on the company stock is 1.65, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 15 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 analyst believes that the stock is a Buy, which can produce decent returns in the future. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Devon Energy Corporation (DVN) : Average target price received by Devon Energy Corporation (DVN) is $46.84 with an expected standard deviation of $9.88. The most aggressive target on the stock is $64, whereas the most downbeat target is $30. 19 financial analysts are currently covering the stock.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of Devon Energy Corporation (NYSE:DVN). Barclays has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $50 per share from a prior target of $45. The rating by the firm was issued on September 1, 2016.

Devon Energy Corporation (NYSE:DVN): stock was range-bound between the intraday low of $43.77 and the intraday high of $44.9 after having opened at $44.55 on Wednesdays session. The stock finally closed in the red at $44.55, a loss of -0.02%. The stock remained in the red for the whole trading day. The total traded volume was 4,112,753 shares. The stock failed to cross $44.9 in Wednesdays trading. The stocks closing price on Thursday was $44.21.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Companys operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Companys projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLinks operations consist of midstream assets and operations located across the United States. In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

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