Truist analyst Neal Dingmann raised the firm’s price target on Devon Energy to $69 from $66 and keeps a Buy rating on the shares. The company’s upcoming earnings release should see “no surprises” as its drilling and completion costs in key operating areas remain “efficient”, the analyst tells investors in a research note. Truist adds that Devon’s overall capital efficiency could return this year to levels last seen in 2021-2022 after cumulative average production fell sequentially in the Delaware and Bakken the past two years.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DVN:
- Devon Energy price target raised to $60 from $59 at Piper Sandler
- Devon Energy price target raised to $60 from $59 at Wells Fargo
- Devon Energy price target raised to $67 from $53 at Scotiabank
- Devon Energy price target raised to $62 from $55 at Citi
- Barclays starts U.S. Integrated Oil & E&P sector with Positive view