UPDATE: Barclays Downgrades Devon Energy (DVN) to Equalweight; Looking To Other Large-Cap Names

July 2, 2012 7:59 AM EDT
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Price: $46.07 -0.88%

Rating Summary:
    27 Buy, 16 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 22 | New: 54
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(Updated - July 2, 2012 1:17 PM EDT)

Barclays downgraded Devon Energy (NYSE: DVN) from Overweight to Equalweight with a price target of $67.00 (from $82.00).

Analyst, Thomas R. Driscoll, said shares of DVN are down 22% for Q2, but an outperformer year-to-date versus peers in the sector. For Large-cap names, Driscoll sees the best growth and value from EOG (NYSE: EOG) and Noble (NYSE: NBL).

Barclays lowers FY12 EPS estimate from $4.20 to $3.20 and FY13 from $4.35 to $3.15.

For an analyst ratings summary and ratings history on Devon Energy click here. For more ratings news on Devon Energy click here.

Shares of Devon Energy closed at $57.99 yesterday.

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