Stock Traders Purchase Large Volume of Devon Energy Corp Put Options (DVN)
Shares of Devon Energy Corp (NYSE:DVN) saw some unusual options trading activity on Monday. Traders bought 3,601 put options on the stock, Stock Ratings Network.com reports. This is an increase of 177% compared to the typical daily volume of 1,301 put options.
In other Devon Energy Corp news, Director Robert A. Mosbacher, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $79.07, for a total value of $276,745.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on DVN shares. Analysts at ISI Group raised their price target on shares of Devon Energy Corp from $0.10 to $0.48 in a research note on Monday. They now have an “average” rating on the stock. Separately, analysts at Wed upgraded shares of Devon Energy Corp to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $75.00. Finally, analysts at Citigroup Inc. upgraded shares of Devon Energy Corp from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $96.00 price target on the stock, up previously from $21.00. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $81.31.
Shares of Devon Energy Corp (NYSE:DVN) traded down 1.17% on Monday, hitting $78.28. The stock had a trading volume of 3,287,859 shares. Devon Energy Corp has a 52 week low of $53.46 and a 52 week high of $80.63. The stock has a 50-day moving average of $75.83 and a 200-day moving average of $67.20. The company has a market cap of $31.930 billion and a price-to-earnings ratio of 19.47.
Devon Energy Corp (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.26 by $0.12. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 89.0% on a year-over-year basis. On average, analysts predict that Devon Energy Corp will post $5.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, September 10th.
Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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