In a report released yesterday, John Freeman from Raymond James maintained a Buy rating on Devon Energy (DVN). The company’s shares closed last Tuesday at $20.87, close to its 52-week high of $23.03.
According to TipRanks.com, Freeman has 0 stars on 0-5 stars ranking scale with an average return of -2.1% and a 38.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Northern Oil And Gas, and Black Stone Minerals.
Devon Energy has an analyst consensus of Strong Buy, with a price target consensus of $22.46, which is a 9.1% upside from current levels. In a report issued on February 9, Citigroup also initiated coverage with a Buy rating on the stock with a $24.00 price target.
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Based on Devon Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.07 billion and GAAP net loss of $92 million. In comparison, last year the company earned revenue of $1.75 billion and had a net profit of $109 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. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.
