Analysts Offer Insights on Energy Companies: Devon Energy (DVN) and BP (BP)

There’s a lot to be optimistic about in the Energy sector as 2 analysts just weighed in on Devon Energy (DVN) and BP (BP) with bullish sentiments.

Devon Energy (DVN)

In a report released today, Hanwen Chang from Wells Fargo maintained a Buy rating on Devon Energy, with a price target of $64.00. The company’s shares closed last Tuesday at $50.21.

Chang has an average return of 20.8% when recommending Devon Energy. ;'>

According to TipRanks.com, Chang is ranked #1463 out of 12527 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Devon Energy with a $60.50 average price target, a 22.9% upside from current levels. In a report issued on October 3, Jefferies also maintained a Buy rating on the stock with a $60.00 price target.

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BP (BP)

In a report released today, Sam Margolin from Wells Fargo maintained a Buy rating on BP, with a price target of $57.00. The company’s shares closed last Tuesday at $48.53.

According to TipRanks.com, Margolin is a top 100 analyst with an average return of 20.8% and a 74.5% success rate. Margolin covers the NA sector, focusing on stocks such as Crescent Energy Company Class A, Tamboran Resources Corporation, and HF Sinclair Corporation. ;'>

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BP with a $48.53 average price target, which is a 1.1% upside from current levels. In a report issued on October 5, Mizuho Securities also maintained a Buy rating on the stock with a $56.00 price target.

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• Devon Energy price target raised to $60 from $58 at Barclays
• Devon Energy Sells Eagle Ford Assets to Crescent
• Devon Energy Stock Rises After $4.2B Asset Sale to Boost Efficiency
• Devon Energy to sell Eagle Ford assets to Crescent Energy for $4.2B in cash
• Devon Energy price target raised to $65 from $63 at UBS