Morgan Stanley analyst Drew Venker maintained a Hold rating on Devon Energy Corp (NYSE: DVN) today and set a price target of $45. The company’s shares closed yesterday at $40.48.
According to TipRanks.com, Venker ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.9% and a 36.4% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Occidental Petroleum, and Oasis Petroleum Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Devon Energy Corp with a $51.54 average price target.
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Based on Devon Energy Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.75 billion and GAAP net loss of $426 million. In comparison, last year the company earned revenue of $3.13 billion and had a net profit of $420 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral on the stock.
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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.
