Goldman Sachs Maintains Neutral Rating for Devon Energy: Here's What You Need To Know

Goldman Sachs has decided to maintain its Neutral rating of Devon Energy DVN and lower its price target from $70.00 to $61.00.

Shares of Devon Energy are trading down 7.26% over the last 24 hours, at $51.11 per share.

A move to $61.00 would account for a 19.35% 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 mboe/d (of which, oil and natural gas liquids made up 74% of production, with natural gas accounting for the remainder).

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This article was generated by Benzinga's automated content engine and reviewed by an editor.