In a report issued on November 20, Rehan Rashid from B.Riley FBR reiterated a Hold rating on Devon Energy Corp (DVN), with a price target of $30.50. The company’s shares opened today at $27.37, close to its 52-week low of $27.06.
According to TipRanks.com, Rashid is a 3-star analyst with an average return of 2.2% and a 47.7% success rate. Rashid covers the Basic Materials sector, focusing on stocks such as Continental Resources, Lonestar Resources US, and Range Resources Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Devon Energy Corp with a $49.73 average price target, an 81.7% upside from current levels. In a report issued on November 20, Morgan Stanley also maintained a Hold rating on the stock with a $39 price target.
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Based on Devon Energy Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.86 billion and net profit of $2.53 billion. In comparison, last year the company earned revenue of $3.31 billion and had a net profit of $226 million.
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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil.
