Barclays analyst Betty Jiang maintains $Devon Energy (DVN.US)$ with a hold rating, and adjusts the target price from $55 to $46.
According to TipRanks data, the analyst has a success rate of 43.2% and a total average return of -1.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Devon Energy (DVN.US)$'s main analysts recently are as follows:
Estimates for the integrated oil and exploration and production group have been modified to account for a decrease in oil price forecasts. Despite a recent downturn in the sector, the potential for gains outweighs the risks since company fundamentals and operational momentum are considered to be strong.
The resumption of Devon Energy coverage has been followed by commentary noting that the acquisition of Grayson Mill enhances the company's Bakken position and is likely to contribute positively to its free cash flow as development activities are refined. The investment community's attention continues to center on the Delaware's longevity and foundational play outcomes; however, the increased scale in the Bakken region is viewed as a beneficial development.
The exploration and production sector's estimates have been adjusted in line with revised commodity price expectations and investment perspectives. While long-term oil and gas price projections stay constant, there's potential for enhanced capital efficiency until 2025 if operational efficiencies continue and service costs decrease further. This improved efficiency could potentially balance out the effects of resource maturity.
Note:
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