Traders Purchase Large Volume of Devon Energy Corp Call Options (DVN)
Shares of Devon Energy Corp (NYSE:DVN) saw unusually large options trading activity on Tuesday. Investors purchased 14,582 call options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 324% compared to the typical daily volume of 3,436 call options.
DVN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Devon Energy Corp in a research note on Thursday, August 7th. They now have a $78.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of Devon Energy Corp from $96.00 to $95.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Devon Energy Corp in a research note on Friday, July 18th. They now have a $87.00 price target on the stock, up previously from $75.00. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $82.94.
Shares of Devon Energy Corp (NYSE:DVN) traded up 1.01% during mid-day trading on Tuesday, hitting $74.28. 1,733,695 shares of the company’s stock traded hands. Devon Energy Corp has a one year low of $56.03 and a one year high of $80.63. The stock’s 50-day moving average is $76.55 and its 200-day moving average is $70.71. The company has a market cap of $30.388 billion and a price-to-earnings ratio of 18.32.
Devon Energy Corp (NYSE:DVN) last announced its earnings results on Wednesday, August 6th. The company reported $1.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.40 by $0.24. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 46.0% on a year-over-year basis. Analysts expect that Devon Energy Corp will post $5.72 EPS for the current fiscal year.
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).
Receive News & Ratings for Devon Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.