Price Target Update on Devon Energy Corporation (NYSE:DVN)

Devon Energy Corporation (NYSE:DVN) : 19 investment research analysts covering Devon Energy Corporation (NYSE:DVN) have an average price target of $41.05 for the near short term. The highest target price given by the Brokerage Firm to the stock is $54 and the lowest target is $30 for the short term. Analysts expect the variance to be within $7.22 of the average price.

Other Equity analysts have also commented on the company shares. UBS maintains their rating on the shares of Devon Energy Corporation (NYSE:DVN). The current rating of the shares is Sell. Equity Analysts at the Firm raises the price target to $30 per share from $29 per share. The rating by the firm was issued on June 16, 2016.

Devon Energy Corporation (NYSE:DVN): stock turned positive on Thursday. Though the stock opened at $38.44, the bulls momentum made the stock top out at $38.86 level for the day. The stock recorded a low of $38.06 and closed the trading day at $38.8, in the green by 2.27%. The total traded volume for the day was 5,841,248. The stock had closed at $37.94 in the previous days trading.

The company shares have dropped -37.16% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $61.35 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $34.95 and the 200 Day Moving Average price is recorded at $29.32. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Devon Energy Corp/De, Baumann Barbara M, had purchased 8,200 shares in a transaction dated on January 6, 2016. The transaction was executed at $30.44 per share with total amount equaling $249,608.

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Companys operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Companys projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLinks operations consist of midstream assets and operations located across the United States. In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

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