Mizuho analyst Nitin Kumar assumed coverage of Devon Energy with a Buy rating with a price target of $82, down from $86. Admittedly the stock is trading at a slight premium to its large-cap peers, the company’s "fixed plus variable" dividend is both "sustainable and differentiated, which merits the premium valuation," Kumar tells investors in a research note.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on DVN:
- Devon Energy Provides Fourth-Quarter Winter Weather Impact
- Devon Energy Appoints Michael Mears and Gennifer Kelly to Board of Directors
- Devon Energy price target lowered to $86 from $89 at Barclays
- Devon Energy price target raised to $98 from $96 at Piper Sandler
- Devon Energy Stock (NYSE:DVN): Why Investor Pessimism is Unwarranted