Devon Energy Is Trading below Analysts’ Median Target Price



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.

Article continues below advertisement

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.


More From Market Realist