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What does the future hold for the Devon Energy share price?

7th May '20 by Michael Green

The Devon Energy (NYQ:DVN) share price has risen by 33.4% over the past month and it’s currently trading at 11.49. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Devon Energy currently has:

  • 8 Buy recommendations
  • 11 Hold recommendations
  • 0 Sell recommendations

This suggests that analysts are generally positive about the outlook.

At its current price of 11.49, shares in Devon Energy are trading at a discount of -64.9% to its 52 week high price. The 1-year performance of the shares has been -64.5%.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Devon Energy it's worth doing some investigation yourself.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Devon Energy it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Devon Energy that you can find out about here.

Alternatively, if you'd like to find more shares that analysts are bullish about, you can find them on this Positive Momentum & Broker Buys screen.

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