Devon Energy (DVN) Gets a Buy Rating from Siebert Williams Shank & Co

By Austin Angelo

Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Buy rating on Devon Energy (DVNResearch Report) on December 3 and set a price target of $17.00. The company’s shares closed last Tuesday at $19.71.

According to TipRanks.com, Sorbara ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -14.7% and a 30.6% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.

Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $19.73, a 5.4% upside from current levels. In a report issued on November 19, Scotiabank also maintained a Buy rating on the stock with a $20.00 price target.

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Devon Energy’s market cap is currently $13.25B and has a P/E ratio of -2.20. The company has a Price to Book ratio of 5.43.

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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. Nichols in 1971 and is headquartered in Oklahoma City, OK.