Raymond James Sticks to Its Buy Rating for Devon Energy (DVN)

In a report released today, John Freeman from Raymond James maintained a Buy rating on Devon Energy (DVNResearch Report), with a price target of $80.00. The company’s shares opened today at $65.13.

According to TipRanks, Freeman is a top 25 analyst with an average return of 32.1% and a 60.64% success rate. Freeman covers the Utilities sector, focusing on stocks such as Northern Oil And Gas, APA, and Devon Energy.

In addition to Raymond James, Devon Energy also received a Buy from Susquehanna’s Biju Perincheril in a report issued on January 23. However, on January 24, Morgan Stanley maintained a Hold 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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