Entering text into the input field will update the search result below

Devon Energy moves higher as Bernstein upgrades

Oct. 01, 2015 2:56 PM ETDevon Energy Corporation (DVN) StockDVNBy: Carl Surran, SA News Editor
  • Devon Energy (DVN +1.6%) is upgraded to Outperform from Market Perform with a $58 price target at Bernstein, which believes the success of the company’s New Devon strategy has been overshadowed by the macro environment.
  • Bernstein sees a recent significant improvement in DVN's well results across the board, which implies a step-up in performance metrics if it is the beginning of a trend, and the ramp of Jackfish-3, which is expected by year-end and translates to "an end to oil sands development capex and a harvesting of oil sands cash flow."
  • Dropdowns to Enlink also may prove to be a catalyst in the next few quarters, the firm says.

Recommended For You

More Trending News

About DVN Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
DVN--
Devon Energy Corporation