In today’s session Devon Energy Corp (DVN) registered an unusually high (262) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious DVN increase. With 262 contracts traded and 14644 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: DVN161216C00047000 closed last at: $1.49 or 19.5% down. About 2.69M shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 73.39% since March 15, 2016 and is uptrending. It has outperformed by 67.91% 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 “Buy” rating given on Thursday, April 7 by Citigroup. The stock of Devon Energy Corp (NYSE:DVN) earned “Outperform” rating by Bernstein on Thursday, October 1. Barclays Capital maintained Devon Energy Corp (NYSE:DVN) on Thursday, September 1 with “Overweight” rating. The firm earned “Outperform” rating on Wednesday, December 9 by RBC Capital Markets. Howard Weil downgraded the shares of DVN in a report on Friday, August 14 to “Sector Outperform” rating. Wolfe Research downgraded the stock to “Peer Perform” rating in Friday, February 19 report. Evercore upgraded the shares of DVN in a report on Friday, April 15 to “Buy” rating. The rating was downgraded by Peters & Co to “Sector Perform” on Thursday, August 6. The firm has “Neutral” rating by Seaport Global given on Wednesday, January 13. The stock of Devon Energy Corp (NYSE:DVN) earned “Accumulate” rating by Johnson Rice on Thursday, May 19.
According to Zacks Investment Research, “Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The Company is the second-largest oil producer among North American onshore independents.”
Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.59, from 1.53 in 2016Q1. The ratio worsened, 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.
Prudential Finance Inc has 956,971 shares for 0.06% of their US portfolio. Citigroup holds 444,549 shares or 0.02% of its portfolio. Dreman Value L L C holds 31,167 shares or 0.7% of its portfolio. Ardevora Asset Mngmt Llp owns 540,100 shares or 0.82% of their US portfolio. Hartford Invest Mngmt holds 0.09% or 123,311 shares in its portfolio. Moreover, Fmr Ltd has 0.06% invested in Devon Energy Corp (NYSE:DVN) for 12.40M shares. Btr Capital Mngmt Inc accumulated 78,381 shares or 0.65% of the stock. Eaton Vance has 0.19% invested in the company for 1.80 million shares. Tokio Marine Asset Limited holds 0.06% of its portfolio in Devon Energy Corp (NYSE:DVN) for 15,168 shares. Tower Rech Capital Ltd Company (Trc) owns 8,700 shares or 0.03% of their US portfolio. The New York-based Silvercrest Asset Mgmt Grp Limited Liability Com has invested 0.02% in Devon Energy Corp (NYSE:DVN). Princeton Alpha Mgmt L P holds 15,059 shares or 0.1% of its portfolio. Hightower Advsr Ltd Limited Liability Company has 19,375 shares for 0.01% of their US portfolio. Rr Ltd Liability holds 0.81% or 150,000 shares in its portfolio. Dai Ichi Life Ins holds 0.08% or 68,762 shares in its portfolio.
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 $21.34 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.
DVN Company Profile
Devon Energy Corporation (Devon), incorporated on May 18, 1999, is an independent energy firm engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s activities are concentrated in various North American onshore areas in the United States and Canada. The Firm also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day. The Firm operates through three divisions: U.S., Canada and EnLink. Devon’s U.S. and Canadian divisions are engaged in gas and oil exploration and production activities. EnLink’s activities consist of midstream assets and activities located across the United States.
More news for Devon Energy Corp (NYSE:DVN) were recently published by: Seekingalpha.com, which released: “Devon Energy: Buy On The Dip” on October 18, 2016. Seekingalpha.com‘s article titled: “Why Devon Energy Corp.’s Share Price Has More Room To Run” and published on October 12, 2016 is yet another important article.
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