In today’s session Devon Energy Corp (DVN) registered an unusually high (205) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious DVN increase. With 205 contracts traded and 13704 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: DVN170120C00047500 closed last at: $2.54 or 14.9% up. The stock decreased 2.08% or $0.92 during the last trading session, hitting $43.28. About 3.92 million shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 101.12% since March 2, 2016 and is uptrending. It has outperformed by 91.87% the S&P500.
Analysts await Devon Energy Corp (NYSE:DVN) to report earnings on November, 1. They expect $-0.03 EPS, down 103.95% or $0.79 from last year’s $0.76 per share. After $0.06 actual EPS reported by Devon Energy Corp for the previous quarter, Wall Street now forecasts -150.00% negative EPS growth.
Devon Energy Corp (NYSE:DVN) Ratings Coverage
Out of 25 analysts covering Devon Energy Corporation (NYSE:DVN), 18 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 72% are positive. Devon Energy Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Thursday, August 6 by Peters & Co. The rating was upgraded by Bernstein to “Outperform” on Thursday, October 1. UBS maintained it with “Sell” rating and $30 target price in Thursday, June 16 report. The rating was maintained by Barclays Capital with “Overweight” on Thursday, July 14. The rating was upgraded by Barclays Capital on Monday, January 11 to “Overweight”. RBC Capital Markets maintained the shares of DVN in a report on Thursday, February 18 with “Outperform” rating. The rating was maintained by UBS on Tuesday, December 8 with “Sell”. The rating was maintained by Barclays Capital with “Overweight” on Thursday, September 1. RBC Capital Markets maintained the shares of DVN in a report on Wednesday, December 9 with “Outperform” rating. The stock of Devon Energy Corp (NYSE:DVN) earned “Overweight” rating by Barclays Capital on Friday, February 19.
Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.59, from 1.53 in 2016Q1. The ratio dropped, as 69 funds sold all Devon Energy Corp shares owned while 258 reduced positions. 98 funds bought stakes while 210 increased positions. They now own 391.88 million shares or 2.55% less from 402.14 million shares in 2016Q1.
Whittier Tru Commerce Of Nevada Inc reported 7,857 shares or 0.03% of all its holdings. Dnb Asset Mgmt As has 0% invested in the company for 23,775 shares. Dubuque Comml Bank Tru last reported 50 shares in the company. Assetmark Inc accumulated 0% or 1,107 shares. Dreman Value Mngmt L L C last reported 0.7% of its portfolio in the stock. Wealthfront Inc reported 10,132 shares or 0.01% of all its holdings. Moreover, Park Natl Corp Oh has 0.02% invested in Devon Energy Corp (NYSE:DVN) for 9,098 shares. Schwab Charles Mngmt Incorporated holds 0.08% of its portfolio in Devon Energy Corp (NYSE:DVN) for 1.78 million shares. Carroll Finance Assoc reported 1,121 shares or 0.01% of all its holdings. Adams Asset Advsrs Ltd Liability has 44,093 shares for 0.27% of their US portfolio. Blume Management has 2.53% invested in the company for 67,355 shares. Rs Investment Mgmt Ltd has 3,973 shares for 0% of their US portfolio. Iat Reinsurance Co Ltd last reported 50,000 shares in the company. Moreover, Nikko Asset Management Americas has 0.03% invested in Devon Energy Corp (NYSE:DVN) for 9,300 shares. The Connecticut-based Massmutual Trust Fsb Adv has invested 0% in Devon Energy Corp (NYSE:DVN).
Devon Energy Corporation is an independent energy firm engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The company has a market cap of $22.71 billion. The Company’s activities are concentrated in various North American onshore areas in the United States and Canada. It currently has negative earnings. The Firm also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day.
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