In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Buy rating on Devon Energy (DVN), with a price target of $16.00. The company’s shares closed last Tuesday at $11.18.
According to TipRanks.com, Sorbara ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -25.2% and a 23.5% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Matador Resources, Concho Resources, and Laredo Petroleum.
Devon Energy has an analyst consensus of Moderate Buy, with a price target consensus of $13.47.
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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 12.16M.
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.
