Investors Buy High Volume of Devon Energy Corp. Call Options (DVN)
Devon Energy Corp. (NYSE:DVN) saw some unusual options trading on Wednesday. Stock investors purchased 15,518 call options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of 220% compared to the typical daily volume of 4,852 call options.
A number of analysts have recently weighed in on DVN shares. Analysts at Canaccord Genuity initiated coverage on shares of Devon Energy Corp. (NYSE:DVN) in a research note to investors on Tuesday, August 20th. They set a “buy” rating and a $75.00 price target on the stock. Separately, analysts at Guggenheim raised their price target on shares of Devon Energy Corp. (NYSE:DVN) from $74.00 to $76.00 in a research note to investors on Wednesday, August 14th. They now have a “buy” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Devon Energy Corp. (NYSE:DVN) from $68.00 to $69.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock.
One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the stock. Devon Energy Corp. currently has a consensus rating of “Hold” and an average price target of $68.75.
Shares of Devon Energy Corp. (NYSE:DVN) opened at 59.13 on Thursday. Devon Energy Corp. has a 1-year low of $50.81 and a 1-year high of $63.95. The stock has a 50-day moving average of $57.13 and a 200-day moving average of $56.07. The company’s market cap is $24.007 billion.
Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.26. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter last year, the company posted $0.55 earnings per share. Devon Energy Corp.’s revenue was up 20.8% compared to the same quarter last year. On average, analysts predict that Devon Energy Corp. will post $4.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.49%.
Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NYSE:DVN).
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