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Devon Energy Is Trading below Analysts’ Median Target Price

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Wall Street analysts’ ratings

Currently, ~24% of Wall Street analysts rate Devon Energy (DVN) as a “strong buy,” ~47% rate it as a “buy,” and ~26% rate it as a “hold.” On the bearish side, ~3% of analysts rate Devon Energy as a “sell.” There are no “strong sell” ratings on the stock.

The median target price from these recommendations is $50.00, which is ~7% higher than the company’s December 22, 2016, closing price of $46.90.

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Other upstream players

Based on the median price targets of recommendations from Wall Street analysts, upstream companies SM Energy (SM), ConocoPhillips (COP), and QEP Resources (QEP) have potential upsides of ~30%, ~8%, and ~31%, respectively, from their December 22, 2016, closing prices.

The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies.

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