Devon Energy Corp Receives a Buy from Barclays

By Ryan Adsit

Barclays analyst Thomas Driscoll maintained a Buy rating on Devon Energy Corp (NYSE: DVN) on December 21 and set a price target of $39. The company’s shares closed on Friday at $41.57.

According to TipRanks.com, Driscoll is a 4-star analyst with an average return of 5.2% and a 56.7% success rate. Driscoll covers the Basic Materials sector, focusing on stocks such as Quicksilver Resources Inc, Continental Resources, and Gulfport Energy Corp.

Currently, the analyst consensus on Devon Energy Corp is Strong Buy and the average price target is $46.36, representing an 11.5% upside.

In a report issued on December 11, Credit Suisse also initiated coverage with a Buy rating on the stock with a $43 price target.

The company has a one-year high of $49.45 and a one-year low of $28.79. Currently, Devon Energy Corp has an average volume of 4.75M.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

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Devon Energy Corp. engages in the exploration, development and production of oil and natural gas properties. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W.