Piper Sandler Maintains Overweight Rating for Devon Energy: Here's What You Need To Know

Piper Sandler has decided to maintain its Overweight rating of Devon Energy DVN and lower its price target from $87.00 to $82.00.

Shares of Devon Energy are trading down 0.14% over the last 24 hours, at $47.65 per share.

A move to $82.00 would account for a 72.11% 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 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% 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.