BMO Capital Reiterates Outperform Rating on Devon Energy (DVN), 'Seeing Opportunity'

BMO Capital analyst Phillip Jungwirth reiterated an Outperform rating and $52.00 price target on Devon Energy (NYSE: DVN).

The analyst commented: "Seeing Opportunity; We had the opportunity to attend a sell side group meeting with Devon’s new CEO, Clay Gaspar, and executive leadership. Devon is coming off a strong year of operational performance, which we think can continue in 2025. The asset base is also improved, while Delaware execution has been strong. Shares have performed better year-to-date, but we think good value still exists. FCF yield is in the low-teens, with EV/EBITDA in the high 3xs, despite Devon having a high-return asset base with good runway, strong balance sheet, and competitive capital returns."

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 $36.88 yesterday.

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