In a report issued on November 25, Derrick Whitfield from Stifel Nicolaus reiterated a Buy rating on Devon Energy Corp (DVN), with a price target of $50. The company’s shares closed yesterday at $26.61, close to its 52-week low of $26.48.
According to TipRanks.com, Whitfield has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.1% and a 30.1% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sundance Energy Australia, and Continental Resources.
Devon Energy Corp has an analyst consensus of Moderate Buy, with a price target consensus of $48.13, an 80.9% upside from current levels. In a report issued on November 12, BMO Capital also reiterated a Buy rating on the stock with a $50 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.
