Devon Energy Corp. Receives a Hold from Nomura Holdings

Nomura Holdings analyst Lloyd Byrne reiterated a Hold rating on Devon Energy Corp. (NYSE: DVN) today and set a price target of $38. The company’s shares opened today at $41.03.

According to TipRanks.com, Byrne is a 4-star analyst with an average return of 8.6% and a 62.0% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Parker Drilling Company, and Whiting Petroleum Corp.

Devon Energy Corp. has an analyst consensus of Moderate Buy, with a price target consensus of $47.67.

Based on Devon Energy Corp.’s latest earnings report from June 30, the company posted quarterly revenue of $2.63B and quarterly net profit of -$1.57B. In comparison, last year the company earned revenue of $3.19B and had a net profit of -$3.51B.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock. Most recently, in July 2015, Barbara Baumann, a Director at DVN bought 4,500 shares for a total of $254,565.

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.