Goldman Sachs Sticks to Its Devon Energy Buy Call Despite Record Earnings
Goldman Sachs analyst Neil Mehta has maintained a Buy rating on Devon Energy (DVN) shares, setting a price target of $55.00. This comes after the company's latest earnings release for the quarter ending June 30.
Devon Energy reported quarterly revenue of $7.42 billion and a net profit of $1.91 billion. In comparison to last year's quarter, the company earned $4.28 billion in revenue with a net profit of $899 million.
The analyst consensus on Devon Energy is Strong Buy, with a price target consensus of $60.24, representing a 30.84% upside from its current share price of $46.04. Wells Fargo also assigned a Buy rating to the stock with a $64.00 price target in a report released on September 28.
Mehta is a 5-star analyst with an average return of 11.5% and a 60.16% success rate, covering stocks such as Viper Energy and Permian Resources.