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Rating: DVN

Devon Energy Corporation (NYSE: DVN) upgraded to Buy by Citigroup

Tuesday,  Jan 26, 2016  10:25 AM ET by Dave Ficere

Citigroup upgraded Devon Energy Corporation (NYSE: DVN) to Buy. Previously Citigroup rated Neutral Devon
Energy Corporation (NYSE: DVN) on 11/08/2012, when the stock price was $54.65. Since then, Devon Energy Corporation's stock price has lost 57% as of 01/26/2016's recent price of $23.45.

Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon currently owns oil and gas properties concentrated in four operating divisions: the Northern Division; the Southern Division,; Canada; and the International Division.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.

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