Citigroup has decided to maintain its Buy rating of Devon Energy DVN and raise its price target from $62.00 to $77.00.
Shares of Devon Energy are trading up 0.81% over the last 24 hours, at $65.65 per share.
A move to $77.00 would account for a 17.29% increase from the current share price.
About Devon Energy
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2021, Devon's proved reserves totaled 1.6 billion barrels of oil equivalent, and net production that year was 572 thousand boe/d, of which oil and natural gas liquids made up 74% of production, with natural gas accounting for the remainder.
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