After Northland Securities and Merrill Lynch gave Devon Energy (NYSE: DVN) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst John Freeman maintained a Buy rating on Devon Energy today. The company’s shares closed last Monday at $9.80.
According to TipRanks.com, Freeman is ranked 0 out of 5 stars with an average return of -23.2% and a 19.5% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Matador Resources.
Devon Energy has an analyst consensus of Strong Buy, with a price target consensus of $15.36, implying a 60.7% upside from current levels. In a report issued on September 14, Northland Securities also initiated coverage with a Buy rating on the stock with a $15.00 price target.
See today’s analyst top recommended stocks >>
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
