Jefferies Reiterates Their Hold Rating on Devon Energy Corp

By Jason Carr

In a report released today, Michael Hsu from Jefferies reiterated a Hold rating on Devon Energy Corp (NYSE: DVN), with a price target of $31. The company’s shares opened today at $30.59, close to its 52-week high of $50.69.

According to TipRanks.com, Hsu is ranked 0 out of 5 stars with an average return of -20.2% and a 13.3% success rate. Hsu covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Continental Resources, and Gulfport Energy Corp.

Devon Energy Corp has an analyst consensus of Moderate Buy, with a price target consensus of $42.50.

Devon Energy Corp’s market cap is currently $16.27B and has a P/E ratio of 7.05. The company has a book value ratio of 2.3582.

Based on the recent corporate insider activity of 40 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.