In a report released today, Randy Ollenberger from BMO Capital reiterated a Buy rating on Devon Energy Corp (NYSE: DVN), with a price target of $42. The company’s shares closed last Friday at $37.86.
According to TipRanks.com, Ollenberger is a 1-star analyst with an average return of -2.1% and a 44.2% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Spectra Energy Partners, Rice Midstream Partners, and Jagged Peak Energy Inc.
Currently, the analyst consensus on Devon Energy Corp is Strong Buy and the average price target is $54.14, representing a 43.0% upside.
In a report issued on May 3, Scotiabank also maintained a Buy rating on the stock with a $54 price target.
Devon Energy Corp’s market cap is currently $19.91B and has a P/E ratio of 68.59. The company has a book value ratio of 3.0799.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is neutral on the stock. Last month, Robert Mosbacher, a Director at DVN sold 800 shares for a total of $31,344.
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Devon Energy Corp. engages in the exploration, development, and production of oil, natural gas and natural gas liquids. 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; Rockies Oil; Marketing and Midstream; and Contractors, Suppliers, and Vendors. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.