Short Term Price Target on Devon Energy Corporation (DVN)

Devon Energy Corporation (NYSE:DVN) : The consensus price target for Devon Energy Corporation (NYSE:DVN) is $40.58 for the short term with a standard deviation of $7.38. The most optimist securities analyst among the 19 who monitor the stock believes that the stock can reach $54, however, the pessimist price target for the company is $30.

Devon Energy Corporation has dropped 6.57% in the last five trading days, however, the shares have posted positive gains of 0.45% in the last 4 weeks. Devon Energy Corporation is up 36.46% in the last 3-month period. Year-to-Date the stock performance stands at 14.7%. Also, CLSA initiates coverage on Devon Energy Corporation (NYSE:DVN) The current rating of the shares is Outperform. The rating by the firm was issued on June 22, 2016.

Devon Energy Corporation (NYSE:DVN) : The consensus on Devon Energy Corporation (NYSE:DVN) based on 23 analyst recommendation on the company stock is 1.61, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 15 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Devon Energy Corporation (NYSE:DVN): The stock opened at $36.54 on Thursday but the bulls could not build on the opening and the stock topped out at $36.79 for the day. The stock traded down to $35.82 during the day, due to lack of any buying support eventually closed down at $36.25 with a loss of -1.20% for the day. The stock had closed at $36.69 on the previous day. The total traded volume was 6,254,051 shares.

In an insider trading activity, The Securities and Exchange Commission has divulged that Henry Robert H., director of Devon Energy Corp/De, had unloaded 7,100 shares at an average price of $37.43 in a transaction dated on June 20, 2016. The total value of the transaction was worth $265,753.

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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