In a report released today, Subash Chandra from Northland Securities maintained a Buy rating on Devon Energy (DVN), with a price target of $30.00. The company’s shares closed last Wednesday at $25.11, close to its 52-week high of $26.13.
According to TipRanks.com, Chandra is a 2-star analyst with an average return of 0.6% and a 44.2% success rate. Chandra covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Magnolia Oil & Gas.
Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $29.43, implying a 22.4% upside from current levels. In a report issued on April 20, Mizuho Securities also maintained a Buy rating on the stock with a $29.00 price target.
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Devon Energy’s market cap is currently $15.87B and has a P/E ratio of -3.30. The company has a Price to Book ratio of 7.42.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.