Large Outflow of Money Witnessed in Devon Energy Corporation

Devon Energy Corporation (DVN) : Money flow in the Devon Energy Corporation (DVN) stock was negative (12.38 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $74.74 million, compared to $87.12 million on downticks. The total uptick to downtick ratio was 0.86, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($15.19 million), indicating selling on the strength. The transaction value during uptick in block trades was $1.15 million. Downtick transaction value in block trades amounted to $16.33 million, indicating persistent selling. The uptick to downtick ratio was 0.07. Devon Energy Corporation (DVN) traded $3.2 higher at $41.58 gaining 8.34% over the previous days close.


Devon Energy Corporation has lost 1.4% in the last five trading days and dropped 7.49% in the last 4 weeks. Devon Energy Corporation is up 13.49% in the last 3-month period. Year-to-Date the stock performance stands at 31.75%.

Devon Energy Corporation (DVN) : 15 brokerage houses believe that Devon Energy Corporation (DVN) is a Strong Buy at current levels. 3 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Devon Energy Corporation (DVN). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 23 Wall Street Analysts endorse the stock as a Buy with a rating of 1.65.

Devon Energy Corporation (NYSE:DVN): The stock opened at $38.75 and touched an intraday high of $41.85 on Wednesday. During the day, the stock corrected to an intraday low of $37.98, however, the bulls stepped in and pushed the price higher to close in the green at $41.58 with a gain of 8.34% for the day. The total traded volume for the day was 10,634,760. The stock had closed at $38.38 in the previous trading session.

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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