Devon Energy Targets Lifted to $52 and $50 After Delaware Basin Q4 Gains
Susquehanna maintained its positive grade on Devon Energy and lifted its price target to $52 from $47, while Roth Capital raised its target to $50 from $42 after strong Delaware Basin oil output. Devon Energy carries a 1.53 average brokerage recommendation with 21 of 29 analysts at Strong Buy.
1. Susquehanna Maintains Positive Grade and Raises Price Target
Susquehanna retained its positive grade on Devon Energy and increased its price target to $52 per share from $47, reflecting confidence in the company’s exploration, development and production operations across its U.S. and Canadian assets.
2. Roth Capital Boosts Target on Strong Q4 Output
Roth Capital raised its price target on Devon Energy to $50 from $42 after reporting that strong oil production in the Delaware Basin during the fourth quarter outpaced initial forecasts and demonstrated operational efficiency.
3. Consensus Ratings and Stock Metrics
Devon Energy holds a 1.53 average brokerage recommendation with 21 of 29 analysts rating it Strong Buy. The stock recently traded near $44.66 with a 12.66 million share volume and carries a market capitalization of roughly $28 billion.