Can Devon Energy Corp’s Tomorrow Be Different? Option Trader Are Very Bearish

 Can Devon Energy Corp's Tomorrow Be Different? Option Trader Are Very Bearish

In today’s session Devon Energy Corp (DVN) recorded an unusually high (686) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious DVN decrease. With 686 contracts traded and 18424 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: DVN170120P00032500 closed last at: $0.37 or 8.8% up. About 2.23 million shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 33.84% since April 28, 2016 and is uptrending. It has outperformed by 27.92% the S&P500.

Analysts await Devon Energy Corp (NYSE:DVN) to report earnings on February, 21. They expect $0.18 earnings per share, down 76.62% or $0.59 from last year’s $0.77 per share. DVN’s profit will be $108.04 million for 67.85 P/E if the $0.18 EPS becomes a reality. After $0.09 actual earnings per share reported by Devon Energy Corp for the previous quarter, Wall Street now forecasts 100.00% 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. $80 is the highest target while $26 is the lowest. The $45.17 average target is -7.53% below today’s ($48.85) stock price. Devon Energy Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, September 17 by Argus Research. The company was maintained on Thursday, February 18 by RBC Capital Markets. Evercore upgraded the stock to “Buy” rating in Friday, April 15 report. On Thursday, November 12 the stock rating was upgraded by Guggenheim to “Buy”. The firm has “Buy” rating by Citigroup given on Monday, September 14. The firm earned “Buy” rating on Monday, July 18 by Citigroup. The rating was upgraded by Bernstein to “Outperform” on Thursday, October 1. The company was initiated on Tuesday, January 26 by Citigroup. The rating was upgraded by Johnson Rice to “Accumulate” on Thursday, May 19. The rating was maintained by Barclays Capital with “Overweight” on Friday, February 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 0.89 in Q2 2016. Its down 0.05, from 0.94 in 2016Q1. The ratio fall, 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.
Dana Inv Advisors Incorporated last reported 47,431 shares in the company. Philadelphia Trust Commerce holds 1.45% of its portfolio in Devon Energy Corp (NYSE:DVN) for 463,665 shares. Matrix Asset last reported 231,608 shares in the company. Liberty Mutual Grp Incorporated Asset Mngmt, a Massachusetts-based fund reported 36,347 shares. Nj State Employees Deferred Compensation Plan owns 17,000 shares or 0.13% of their US portfolio. Arosa Capital Lp has 0.89% invested in the company for 200,000 shares. Moreover, Shell Asset Mngmt Company has 0.03% invested in Devon Energy Corp (NYSE:DVN) for 36,741 shares. Elm Ridge Mgmt Ltd Liability Corporation owns 317,809 shares or 2.77% of their US portfolio. Amer Century Companies accumulated 0.22% or 5.39M shares. Glg accumulated 22,611 shares or 0.06% of the stock. Gsa Prtn Llp, a United Kingdom-based fund reported 32,690 shares. Charter Trust Com has 12,668 shares for 0.05% of their US portfolio. Cna Finance holds 54,900 shares or 0.49% of its portfolio. Cypress Asset Mgmt Inc Tx has 0.06% invested in the company for 7,900 shares. Ibm Retirement Fund has 0.08% invested in the company for 61,980 shares.

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 $29.32 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 important recent Devon Energy Corp (NYSE:DVN) news were published by: Forbes.com which released: “Devon Energy Reaches Analyst Target Price” on December 01, 2016, also Fool.com published article titled: “Devon Energy Corp Delivers Record-Setting Well Results”, Newsok.com published: “Devon Energy agrees to cancel federal leases on tribal land in Montana” on November 17, 2016. More interesting news about Devon Energy Corp (NYSE:DVN) was released by: Seekingalpha.com and their article: “More Bullish STACK Updates From Devon Energy” with publication date: November 28, 2016.

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