Wall Street ratings for Devon Energy
Currently, ~69% of Wall Street analysts rate Devon Energy (DVN) as a “buy” and ~28% of analysts rate it as a “hold.” Around 3% rate the stock a “sell.” The median price target from these recommendations is $43.91, which is ~15% higher than the July 18, 2016, closing price of $38.11.
Devon Energy’s individual recommendations
As shown in the above table, the most recent recommendation of “neutral” comes from Nomura, issued on July 19, 2016. Nomura assigned Devon Energy the lowest target price of $38, which is very close to the July 18, 2016, closing price of $38.11. Nomura expects the target price to be reached within the next 12 months.
Scotia Howard Weil assigned Devon Energy the highest target price of $61, which is ~60% higher than the July 18, 2016, closing price of $38.11. Scotia Howard Weil issued their Devon Energy recommendation on July 14 and did not indicate any target date for the target price.
Other upstream players
Based on the median price targets of recommendations from Wall Street analysts, upstream companies Occidental Petroleum (OXY), Energen (EGN), and Memorial Resources Development (MRD) have potential upsides of ~3%, ~13%, and ~14%, respectively, from their July 18, 2016, closing prices. The Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies, whereas the Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.