In a report released today, John Gerdes from MKM Partners maintained a Buy rating on Devon Energy (DVN), with a price target of $17.00. The company’s shares closed last Thursday at $12.34.
According to TipRanks.com, Gerdes is ranked 0 out of 5 stars with an average return of -4.9% and a 41.7% success rate. Gerdes covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Southwestern Energy.
Currently, the analyst consensus on Devon Energy is a Moderate Buy with an average price target of $13.41, which is a 19.9% upside from current levels. In a report released yesterday, Siebert Williams Shank & Co also reiterated a Buy rating on the stock with a $16.00 price target.
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The company has a one-year high of $31.89 and a one-year low of $4.70. Currently, Devon Energy has an average volume of 12.25M.
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.
