Wall Street analysts’ ratings for Devon Energy
Currently, ~21% of Wall Street analysts rate Devon Energy (DVN) as a “strong buy,” ~46% of analysts rate it as a “buy,” and ~33% of analysts rate it as a “hold.” On the bearish side, there are no “sell” or “strong sell” ratings for the stock.
Rating changes in the last month
The changes in analysts’ recommendations were as follows:
- “strong buy” recommendations decreased from nine to eight
- “hold” recommendations increased from ten to 13
- “sell” recommendations decreased from one to zero
The number of analysts for “buy” and “strong sell” ratings remained unchanged in the last month.
The median target price for Devon Energy is $53, which is ~15% higher than the January 20, 2017, closing price of $46.26. In the last month, Devon Energy’s median target price rose from $50 to $53.
The mean target price for Devon Energy is $52.80, which is slightly lower than its median target price, but ~14% higher than the January 20, 2017, closing price of $46.26. In the last month, Devon Energy’s mean target price rose from $51.04 to $52.80.
Other upstream players
Based on the median price targets of recommendations from Wall Street analysts, oil and gas companies Carrizo Oil & Gas (CRZO), Gulfport Energy (GPOR), and Denbury Resources (DNR) have potential upsides of ~30%, ~61% and ~16%, respectively, from their January 20 closing prices. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) invests at least 80% of its total assets in oil and gas exploration companies, whereas the Energy Select Sector SPDR ETF (XLE) invests at least 95% of its total assets in oil and gas companies.