Credit Suisse Sticks to Its Buy Rating for Devon Energy (DVN)

In a report released today, William Janela from Credit Suisse maintained a Buy rating on Devon Energy (DVN), with a price target of $14.00. The company’s shares closed last Friday at $8.73.

According to, Janela is a 3-star analyst with an average return of 8.7% and a 46.7% success rate. Janela covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Concho Resources, and Cabot Oil & Gas.

Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $15.71, implying an 86.1% upside from current levels. In a report issued on October 21, Raymond James also maintained a Buy rating on the stock with a $13.00 price target.

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Based on Devon Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $394 million and GAAP net loss of $670 million. In comparison, last year the company earned revenue of $1.81 billion and had a net profit of $495 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.

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