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What Analysts Think of Devon Energy after 3Q17 Earnings

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Dec. 4 2020, Updated 10:52 a.m. ET

Analyst recommendations for Devon Energy

As of November 2, 2017, around 71.9% of analysts covering Devon Energy (DVN) have “strong buy” or “buy” recommendations on the stock. As of November 2, 2017, Reuters reported that 32 analysts are covering DVN. Of these, ten analysts have “strong buy” recommendations, 13 analysts have “buy” recommendations, while nine analysts have “hold” recommendations on DVN. There aren’t any “sell” or “strong sell” recommendations on the stock.

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DVN’s median target price

The median target price on Devon Energy’s stock is $40.50, which is ~4% higher than its November 2, 2017, closing price of $38.83.

Analyst recommendation changes on DVN

Since DVN’s 3Q17 earnings, the number of analysts giving a “strong buy” recommendation on DVN stock has risen from nine to ten, whereas the number of analysts giving a “buy” recommendation has fallen from 14 to 13. The number of “hold,” “sell,” and “strong sell” ratings have remained unchanged. Since DVN’s 3Q17 earnings, Devon Energy’s median target price has risen from $40.00 to $40.50.

Other oil and gas producers

Based on the median price targets from Wall Street analysts, Marathon Oil (MRO) and Gulfport Energy (GPOR) have potential upsides of ~9% and ~53%, respectively, from their November 2 closing prices. Range Resources (RRC) has a potential upside of ~63%. GPOR and RRC are primarily natural gas (UNG) producers and operate in the Appalachia region in the US.

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