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What Analysts Are Saying about Devon Energy, Pre-4Q16 Results

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Recommendations

Currently, 39 analysts provide recommendations on Devon Energy (DVN). They gave eight “strong buy,” 18 “buy,” and 13 “hold” recommendations. There were no “sell” or “strong sell” recommendations on the stock.

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Target price

Analysts’ median target price for DVN is $53, which is ~20% higher than the February 8, 2017, closing price of $44.06. The mean target price for DVN is $53.11, which is slightly higher than the median target price.

Changes in the last three months

In the last three months, “buy” ratings for the stock have fallen from 19 to 18, “hold” ratings have risen from ten to 13, and “sell” ratings have fallen from one to zero. The “strong buy” and “strong sell” rating count has remained unchanged. Devon Energy’s median and mean target prices have risen. Its median target price has risen from $45.75 to $53, and its mean target price has risen from $48.16 to $53.11.

Other oil and gas producers

Based on analysts’ mean price targets, peers Carrizo Oil & Gas (CRZO), Gulfport Energy (GPOR), and Encana (ECA) have potential upsides of ~43%, ~59%, and ~28%, respectively, based on their February 8 closing prices. Next, we’ll take a look at Devon’s cash flow estimates for 4Q16.

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