Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Buy rating on Devon Energy (DVN) on July 16 and set a price target of $18.00. The company’s shares closed last Thursday at $10.88.
According to TipRanks.com, Sorbara has 0 stars on 0-5 stars ranking scale with an average return of -22.3% and a 24.9% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Devon Energy with a $15.24 average price target, representing a 40.2% upside. In a report issued on July 1, Credit Suisse also maintained a Buy rating on the stock with a $15.00 price target.
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Based on Devon Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.09 billion and GAAP net loss of $1.82 billion. In comparison, last year the company earned revenue of $1.08 billion and had a GAAP net loss of $317 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.
