Currently, 39 analysts provide recommendations on Devon Energy (DVN). These recommendations include eight “strong buy,” 19 “buy,” and 12 “hold” recommendations. There are no “sell” or “strong sell” recommendations for the stock.
The median target price from analysts is $54.00, which is ~22% higher than the February 16, 2017, closing price of $44.11.
The mean target price for DVN from these recommendations is $53.60, which is slightly lower than the median target price.
How DVN’s recommendations have changed since 4Q16 earnings
Since 4Q16 earnings on February 14, analysts’ “buy” recommendations for DVN have risen from 18 to 19 and “hold” ratings have fallen from 13 to 12. The recommendations with “strong buy,” “sell,” and “strong sell” ratings have remained unchanged.
Since 4Q16 earnings on February 14, Devon Energy’s median and mean target prices have risen. During this time, DVN’s median target price has risen from $53.00 to $54.00, whereas its mean target price has risen from $53.11 to $53.60.
Other oil and gas producers
Based on the mean price targets of recommendations from Wall Street analysts, other oil and gas companies like Carrizo Oil & Gas (CRZO), Gulfport Energy (GPOR), and Denbury Resources (DNR) have potential upsides of ~40%, ~59%, and ~3%, respectively, from their February 16 closing prices. The SPDR S&P Oil and Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies, whereas the Energy Select Sector SPDR ETF (XLE) generally invests at least 95% of its total assets in oil and gas companies.
In the next part, we’ll take a look at a possible trading range for DVN stock.