Devon Energy Corp Has More Gas To Increase After Today’s Bullish Options Activity

 Devon Energy Corp Has More Gas To Increase After Today's Bullish Options Activity

In today’s session Devon Energy Corp (DVN) registered an unusually high (271) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious DVN increase. With 271 contracts traded and 39514 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: DVN161118C00040000 closed last at: $1.93 or 141.2% up. About 1.75M shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 52.29% since April 5, 2016 and is uptrending. It has outperformed by 50.34% the S&P500.

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. $80 is the highest target while $26 is the lowest. The $45.17 average target is 8.82% above today’s ($41.51) stock price. Devon Energy Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Devon Energy Corp (NYSE:DVN) has “Overweight” rating given on Monday, January 11 by Barclays Capital. Seaport Global downgraded the shares of DVN in a report on Wednesday, January 13 to “Neutral” rating. The firm has “Accumulate” rating by KLR Group given on Monday, July 18. Citigroup maintained the shares of DVN in a report on Monday, July 18 with “Buy” rating. The firm earned “Sell” rating on Tuesday, December 8 by UBS. On Tuesday, March 8 the stock rating was maintained by iBERIA Capital Partners with “Sector Perform”. The stock of Devon Energy Corp (NYSE:DVN) has “Buy” rating given on Thursday, September 17 by Argus Research. Barclays Capital maintained it with “Overweight” rating and $43 target price in Thursday, July 14 report. Citigroup initiated the stock with “Buy” rating in Tuesday, January 26 report. Bernstein upgraded the stock to “Outperform” rating in Thursday, October 1 report.

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 Q2 2016. Its down 0.59, from 1.53 in 2016Q1. The ratio turned negative, 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.
Stuyvesant Cap Mgmt accumulated 82,960 shares or 5.95% of the stock. Verition Fund Mngmt Ltd Limited Liability Company has 0.31% invested in the company for 67,345 shares. Weiss Multi last reported 0.29% of its portfolio in the stock. Ledyard Fincl Bank accumulated 44 shares or 0% of the stock. Fil, a Bermuda-based fund reported 67,695 shares. Brick & Kyle Assoc last reported 0.02% of its portfolio in the stock. Aqr Cap Management Limited Liability Corporation owns 305,089 shares or 0.02% of their US portfolio. New York State Common Retirement Fund has invested 0.08% of its portfolio in Devon Energy Corp (NYSE:DVN). Kcg reported 57,303 shares or 0.04% of all its holdings. Fjarde Ap reported 87,024 shares or 0.07% of all its holdings. Putnam Ltd accumulated 44,444 shares or 0% of the stock. First Interstate Retail Bank accumulated 0.01% or 1,300 shares. Suntrust Banks accumulated 0.03% or 129,197 shares. Seizert Capital Lc has 0.02% invested in the company for 11,896 shares. Blair William Il holds 0.01% or 25,547 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 $22.69 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 notable recent Devon Energy Corp (NYSE:DVN) news were published by: Fool.com which released: “Devon Energy Corp Delivers Record-Setting Well Results” on November 02, 2016, also Seekingalpha.com with their article: “Devon Energy Is Rebounding Quickly” published on November 06, 2016, Seekingalpha.com published: “Why Devon Energy Corp.’s Share Price Has More Room To Run” on October 12, 2016. More interesting news about Devon Energy Corp (NYSE:DVN) were released by: Seekingalpha.com and their article: “Devon Energy Earnings Preview” published on October 25, 2016 as well as Newsok.com‘s news article titled: “After two years, Oklahoma City-based Devon Energy turns a profit” with publication date: November 02, 2016.

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