Analysts have been eager to weigh in on the Utilities sector with new ratings on Devon Energy (DVN) and Earthstone Energy (ESTE).
Devon Energy (DVN)
RBC Capital analyst Scott Hanold maintained a Hold rating on Devon Energy on May 7 and set a price target of $13.00. The company’s shares closed last Friday at $12.70.
According to TipRanks.com, Hanold has 0 stars on 0-5 stars ranking scale with an average return of -14.7% and a 32.0% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Southwestern Energy, and Matador Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Devon Energy with a $13.47 average price target, representing a 9.3% upside. In a report issued on April 28, Mizuho Securities also maintained a Hold rating on the stock with a $11.00 price target.
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Earthstone Energy (ESTE)
In a report issued on May 7, Brad Heffern from RBC Capital maintained a Buy rating on Earthstone Energy, with a price target of $4.00. The company’s shares closed last Friday at $2.29, close to its 52-week low of $1.45.
According to TipRanks.com, Heffern is a 2-star analyst with an average return of 0.3% and a 42.6% success rate. Heffern covers the Utilities sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.
Earthstone Energy has an analyst consensus of Moderate Buy, with a price target consensus of $3.00, implying a 30.4% upside from current levels. In a report issued on May 8, Northland Securities also assigned a Buy rating to the stock with a $3.00 price target.
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