Analyzing Wall Street Recommendations for Devon Energy
On May 18, 2017, 38 analysts provided recommendations on Devon Energy (DVN). These recommendations include nine “strong buy”, 17 “buy,” and 12 “hold” recommendations. There were no “sell” or “strong sell” recommendations for the stock.
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The median target price from these Wall Street analyst recommendations is $51.00, which is ~38% higher than its May 18, 2017, closing price of $36.90.
The mean target price for DVN from these recommendations is $51.86, which is higher than the median target price.
How DVN’s recommendations have changed in the last three months
In the last three months, analysts’ “strong buy” recommendations for DVN have risen from eight to nine, and the “buy” ratings for the stock have fallen from 19 to 17. The number of “hold,” “sell,” and “strong sell” ratings remained unchanged.
Devon Energy’s median and mean target prices have fallen in the last three months. DVN’s median target price has fallen from $54.50 to $51.00, and its mean target price has fallen from $53.71 to $51.86.
Other oil and gas producers
Based on the mean price targets of recommendations from Wall Street analysts, oil and gas companies Carrizo Oil & Gas (CRZO) and Gulfport Energy (GPOR) have potential upsides of ~80% and ~68%, respectively, from their May 18 closing prices. W&T Offshore (WTI) has a potential upside of ~22%.
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. The Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.