Devon Energy Corporation (DVN) Shares are Up 3.21%

Devon Energy Corporation (DVN) : Traders are bullish on Devon Energy Corporation (DVN) as it has outperformed the S&P 500 by a wide margin of 2.58% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.77%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.21% in the last 1 week, and is up 5.14% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Devon Energy Corporation (NYSE:DVN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.67 and $38.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.51, notching a gain of 2.33% for the day. The total traded volume was 6,639,501 . The stock had closed at $38.61 on the previous day.

The stock has recorded a 20-day Moving Average of 5% and the 50-Day Moving Average is 6.97%. Devon Energy Corporation is up 26.04% in the last 3-month period. Year-to-Date the stock performance stands at 25.01%.

Devon Energy Corporation (DVN) : The highest level Devon Energy Corporation (DVN) is projected to reach is $61 for the short term and the lowest estimate is at $30. The consolidated price target from 20 rating analysts who initiate coverage on the stock is $44.8 and the possibility the share price can swing is $9.24.


Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Companys operations are concentrated in various North American onshore areas in the United States and Canada. Devon has approximately 689 Million Barrels of Oil Equivalent (MMBoe) of proved undeveloped reserves. The Company operates through three segments: U.S., Canada and EnLink. The Companys projects in North America include Anadarko Basin, Barnett Shale, Mississippian-Woodford Trend, Permian Basin, Rockies and Canadian Heavy Oil. EnLinks operations consist of midstream assets and operations located across the United States. In Canada, the company has two main projects, Jackfish and Pike, located in Alberta, Canada. In addition, its Lloydminster properties are located to the south and east of Jackfish in eastern Alberta.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.