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 3% rate the stock as a “sell.” The median price target from these recommendations is $38.52, which is ~7% higher than the May 27, 2016, closing price of $35.90.
Based on the median price targets of recommendations from Wall Street analysts, upstream companies Marathon Oil (MRO), ConocoPhillips (COP), and Energen (EGN) have potential upsides of ~18%, ~16%, and ~5%, respectively, from their May 27, 2016, closing prices.
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 Vanguard Energy ETF (VDE) invests in the broader energy market.
Devon Energy: Individual recommendations
As shown in the above table, the most recent recommendation of “buy” comes from GMP Securities, which was issued on May 27, 2016. GMP Securities assigned Devon Energy the highest target price of $51, which is ~42% higher than the May 27, 2016, closing price of $35.90. GMP Securities did not mention any target date for the target price.
Alembic Global Advisors assigned Devon Energy the lowest target price of $24, which is ~33% lower than the May 27 closing price of $35.90. Alembic Global Advisors issued its Devon Energy recommendation in the first week of May 2016 and expects it to reach the target price within the next 12 months from the recommendation date.