Stock Worth Watching: A Reversal for Devon Energy Corp Is Not Near. The Stock Rises Again

Stock Worth Watching: A Reversal for Devon Energy Corp Is Not Near. The Stock Rises Again

The stock of Devon Energy Corp (NYSE:DVN) is a huge mover today! About 2.79M shares traded hands. Devon Energy Corp (NYSE:DVN) has risen 38.28% since April 13, 2016 and is uptrending. It has outperformed by 34.35% the S&P500.
The move comes after 8 months positive chart setup for the $23.85 billion company. It was reported on Nov, 15 by Barchart.com. We have $58.78 PT which if reached, will make NYSE:DVN worth $7.63B more.

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. Devon Energy Corporation has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Wolfe Research downgraded the stock to “Peer Perform” rating in Friday, February 19 report. The stock of Devon Energy Corp (NYSE:DVN) earned “Sector Perform” rating by Peters & Co on Thursday, August 6. The stock of Devon Energy Corp (NYSE:DVN) has “Buy” rating given on Monday, July 18 by Citigroup. Susquehanna maintained it with “Positive” rating and $37 target price in Tuesday, January 26 report. Bernstein upgraded Devon Energy Corp (NYSE:DVN) rating on Thursday, October 1. Bernstein has “Outperform” rating and $58 price target. The firm earned “Overweight” rating on Friday, February 19 by Barclays Capital. The stock has “Outperform” rating given by Credit Suisse on Thursday, February 18. The stock of Devon Energy Corp (NYSE:DVN) has “Buy” rating given on Tuesday, August 23 by Argus Research. Howard Weil downgraded Devon Energy Corp (NYSE:DVN) rating on Friday, August 14. Howard Weil has “Sector Outperform” rating and $80 price target. On Wednesday, January 13 the stock rating was downgraded by Seaport Global to “Neutral”.

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 is 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.
Deere And accumulated 26,951 shares or 0.05% of the stock. Comml Bank Of Nova Scotia holds 10,369 shares or 0% of its portfolio. Qci Asset Management New York last reported 75 shares in the company. The Illinois-based Oakbrook Invs Limited Co has invested 0.13% in Devon Energy Corp (NYSE:DVN). Shell Asset Mgmt reported 36,741 shares or 0.03% of all its holdings. Moreover, Asset Mngmt Ltd Llc has 2.57% invested in Devon Energy Corp (NYSE:DVN) for 72,400 shares. Ftb Advisors Incorporated has 2,031 shares for 0.01% of their US portfolio. Wetherby Asset Incorporated owns 10,574 shares or 0.08% of their US portfolio. Putnam Investments Ltd Llc holds 0% or 44,444 shares in its portfolio. Focused Wealth Mgmt Inc reported 100 shares or 0% of all its holdings. Stoneridge Invest Prtn Ltd Liability has 0.31% invested in the company for 56,968 shares. Citadel Advsr Ltd Limited Liability Company reported 902,701 shares or 0.04% of all its holdings. Blackrock Advsr Ltd Liability Corp has 5.48M shares for 0.2% of their US portfolio. Sumitomo Mitsui Trust Inc holds 0.09% or 1.48M shares in its portfolio. State Board Of Administration Of Florida Retirement Sys has 750,907 shares for 0.09% of their US portfolio.

More 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 Businesswire.com published the news titled: “Devon Energy to Present at Bank of America Merrill Lynch Global Energy Conference” on November 07, 2016. Seekingalpha.com‘s news article titled: “Devon Energy Earnings Preview” with publication date: October 25, 2016 was also an interesting one.

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.

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