Analysts Offer Insights on Utilities Companies: CVR Energy (NYSE: CVI) and Devon Energy (NYSE: DVN)

Analysts have been eager to weigh in on the Utilities sector with new ratings on CVR Energy (CVIResearch Report) and Devon Energy (DVNResearch Report).

CVR Energy (CVI)

Raymond James analyst Justin Jenkins maintained a Hold rating on CVR Energy yesterday. The company’s shares closed last Tuesday at $20.98.

According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 9.1% and a 61.6% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.

The word on The Street in general, suggests a Hold analyst consensus rating for CVR Energy with a $24.40 average price target.

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Devon Energy (DVN)

In a report released yesterday, John Freeman from Raymond James reiterated a Buy rating on Devon Energy, with a price target of $34.00. The company’s shares closed last Tuesday at $25.74, close to its 52-week high of $27.32.

According to TipRanks.com, Freeman is a 4-star analyst with an average return of 7.0% and a 46.1% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Occidental Petroleum.

Currently, the analyst consensus on Devon Energy is a Strong Buy with an average price target of $29.99, implying a 18.9% upside from current levels. In a report issued on April 28, Evercore ISI also upgraded the stock to Buy with a $28.00 price target.

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