Devon Energy, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Gabriele Sorbara from Siebert Williams Shank & Co maintained a Buy rating on the stock and has a $46.00 price target.
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Gabriele Sorbara has given his Buy rating due to a combination of factors including Devon Energy’s positive financial performance and valuation metrics. The company reported third-quarter results that exceeded expectations in key areas such as DCFPS, EBITDA, and FCF, despite mixed production and capex guidance for the fourth quarter. Additionally, Devon Energy is ahead of schedule in achieving its $1.0 billion business optimization target, which is a positive indicator of operational efficiency.
Furthermore, Sorbara maintains a Buy rating based on the company’s valuation, as Devon Energy trades at a discount EV/EBITDA valuation with an above-average free cash flow yield and strong capital returns compared to its peers. The preliminary outlook for 2026 aligns with expectations, and the company is expected to generate significant free cash flow at current oil prices, reinforcing the positive investment thesis. Overall, these factors contribute to a favorable view of Devon Energy’s stock performance and potential for future growth.
According to TipRanks, Sorbara is a 5-star analyst with an average return of 19.5% and a 51.87% success rate. Sorbara covers the Energy sector, focusing on stocks such as Vital Energy, Chord Energy, and Permian Resources.