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Evercore ISI Remains a Buy on Devon Energy (DVN)

Tipranks - Tipranks - Tue Jul 28, 7:34AM CDT

In a report released today, Chris Baker from Evercore ISI maintained a Buy rating on Devon Energy, with a price target of $54.00.

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Baker covers the Energy sector, focusing on stocks such as Devon Energy, APA, and Ovintiv. According to TipRanks, Baker has an average return of 50.4% and an 82.76% success rate on recommended stocks.

In a report released on July 24, Wells Fargo also maintained a Buy rating on the stock with a $68.00 price target.

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Based on Devon Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.81 billion and a net profit of $120 million. In comparison, last year the company earned a revenue of $4.45 billion and had a net profit of $494 million

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DVN in relation to earlier this year. Last month, Alexander Andrea, the SVP & CHIEF ADMIN OFFICER of DVN sold 18,000.00 shares for a total of $841,320.00.

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