J.P. Morgan Sticks to Its Hold Rating for Devon Energy (DVN)

In a report released on December 5, Arun Jayaram from J.P. Morgan maintained a Hold rating on Devon Energy (DVNResearch Report), with a price target of $76.00. The company’s shares closed yesterday at $64.13.

According to TipRanks, Jayaram is a 5-star analyst with an average return of 11.4% and a 55.72% success rate. Jayaram covers the Utilities sector, focusing on stocks such as APA, Devon Energy, and Ovintiv.

In addition to J.P. Morgan, Devon Energy also received a Hold from Barclays’s Jeanine Wai in a report issued today. However, on December 1, Piper Sandler maintained a Buy rating on Devon Energy (NYSE: DVN).

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Based on Devon Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.43 billion and a net profit of $1.89 billion. In comparison, last year the company earned a revenue of $3.47 billion and had a net profit of $838 million

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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.

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