UBS analyst Josh Silverstein lowered the firm’s price target on Devon Energy to $53 from $54 and keeps a Neutral rating on the shares. The firm sees Q2 total/oil production averaging 653mboepd/320mbopd, with the latter within the 316-324mbopd oil guidance range and flat on a sequential basis, and looks for continued sequential growth in the Permian, the analyst tells investors in a research note.
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