Large Inflow of Money Witnessed in Devon Energy Corporation

Devon Energy Corporation (DVN) : Thursdays money flow points at investors jumping to buy the stock on the weakness of price. $56.69 million worth of transactions were on upticks, whereas, the downticks accounted for $46.46 million worth of transactions. The net money flow was a positive $10.23 million and the uptick to downtick ratio was 1.22. However, the block trades showed a clear dominance of the bulls with a very healthy ratio of 8.65 in their favor. The net money flow into the stock was $12.64 million. The value of block trades done on downticks was only $1.65 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $14.29 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Devon Energy Corporation (DVN) was trading at $36.82, down $0.16 during day. The stock slid -0.43% over the previous days close. For the week, the stock recorded -1.68% over the previous weeks close.


Devon Energy Corporation (DVN) : The most positive equity analysts on Devon Energy Corporation (DVN) expects the shares to touch $54, whereas, the least positive believes that the stock will trade at $30 in the short term. The company is covered by 19 Wall Street Brokerage Firms. The average price target for shares are $40.58 with an expected fluctuation of $7.38 from the mean. The stock has recorded a 20-day Moving Average of 1.05% and the 50-Day Moving Average is 4.64%.

Devon Energy Corporation (NYSE:DVN): The stock opened at $37.54 on Thursday but the bulls could not build on the opening and the stock topped out at $38.39 for the day. The stock traded down to $36.35 during the day, due to lack of any buying support eventually closed down at $36.81 with a loss of -0.46% for the day. The stock had closed at $36.98 on the previous day. The total traded volume was 7,558,863 shares.

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.

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