Barclays analyst Jeanine Wai maintained a Buy rating on Devon Energy (DVN) yesterday and set a price target of $11.00. The company’s shares closed last Monday at $7.41, close to its 52-week low of $4.70.
According to TipRanks.com, Wai is ranked 0 out of 5 stars with an average return of -30.4% and a 15.7% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Devon Energy is a Moderate Buy with an average price target of $17.60, which is a 158.8% upside from current levels. In a report issued on March 9, Raymond James also upgraded the stock to Buy.
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The company has a one-year high of $35.39 and a one-year low of $4.70. Currently, Devon Energy has an average volume of 8.79M.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DVN in relation to earlier this year.
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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.
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