Yahoo Finance What Are Wall Street Analysts Saying about Devon Energy?
Will Devon Energy's Rally Continue after Its 1Q16 Earnings?
Wall Street analysts’ ratings for Devon Energy
Currently, ~67% of Wall Street analysts rate Devon Energy (DVN) as a “buy,” and ~31% of analysts rate it as a “hold.” Around 2% rate the stock as a “sell.”
The median target price for Devon Energy is $35.33, ~8% higher than the stock’s May 3, 2016, closing price of $32.75.
Based on the median price targets of recommendations from Wall Street analysts, upstream companies EOG Resources (EOG) and CONSOL Energy (CNX) have potential upsides of ~2% and ~6% respectively, whereas Southwestern Energy (SWN) has a potential downside of ~16% from its May 3, 2016, closing price.
The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the ISE-Revere Natural Gas Index ETF (FCG) invests in natural gas producers.
Devon Energy’s individual recommendations
The above table shows Wall Street analysts’ forecasts for Devon Energy following its latest earnings release.
As shown, the most recent recommendation of “outperform” comes from BMO Capital Markets, and it was issued on May 3, 2016. BMO Capital Markets assigned Devon Energy a target price of $35, ~7% higher than its May 3 closing price of $32.75. BMO Capital Markets didn’t mention any target date for the price.
Seaport Global Securities assigned Devon Energy its lowest target price of $26, which is ~21% lower than DVN’s May 3 closing price of $32.75. Seaport Global Securities issued its recommendation on May 3. It expects the target price to be reached within 12 months of the date of recommendation.
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