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Actionable news in GPOR: Gulfport Energy Corporation,

Barclays Slashes Many Top Oil & Gas Players’ Bullish Expectations

Devon Energy Corp. (NYSE: DVN) saw a harsh target price cut at Barclays, from $45 down to $31. The firm lowered the price target to $45 from $47 back in May, when it had an Overweight rating. That was after Devon had delivered much higher U.S. oil volumes than expected with strong Eagle Ford and Delaware Basin numbers.

Devon Energy’s shares traded down 1% at $30.80. Its consensus target price is $48.70, and its 52-week range is $29.89 to $50.69.

Whiting Petroleum Corp. (NYSE: WLL) saw its price target cut to $7 from $10 by Barclays in the call. While that is far less than the near-double the firm’s prior target implied, it still indicates close to 30% upside to the new target.

Whiting Petroleum is a top crude oil producer in North Dakota, and it also operates substantial assets in northern Colorado. The stock was last seen trading up about 0.2% at $5.35. Its consensus target price is $11.28, and the 52-week range is $5.11 to $13.39.

Encana Corp. (NYSE: ECA) saw its target price reduced to $8 from $12 in the Barclays call, giving implied downside of close to 8%. It was just on June 20 that Barclays maintained its Overweight...