Devon Energy (DVN) Receives a New Rating from a Top Analyst

Truist Financial analyst Neal Dingmann assigned a Buy rating to the stock today. The company’s shares closed yesterday at $50.40.

According to TipRanks, Dingmann is a top 100 analyst with an average return of 13.1% and a 70.00% success rate. Dingmann covers the Energy sector, focusing on stocks such as APA, Civitas Resources, and Devon Energy.

Currently, the analyst consensus on Devon Energy is a Moderate Buy with an average price target of $57.88, representing a 14.84% upside. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $57.00 price target.

DVN market cap is currently $31.89B and has a P/E ratio of 8.64.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DVN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Devon Energy (DVN) Company Description:

Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. 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, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.