Dernières nouvelles pour Devon Energy (NYSE:DVN) Stock

Devon Energy

Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Devon Energy Corp

DANAVATION TECHNOLOGIES by Danavation Technologies Corp.

Danavation Technologies Corp

Touchstone ETF Trust Touchstone Dividend Select ETF

DEVIN ENERGY CORP by Devin Energy Corp.

FRONTIER SERVICES GRP LTD by Frontier Services Group Ltd

Frontier Services Group Ltd

DEVON ENERGY ORD

<p>The stock market indexes have enjoyed record highs in recent years with the S&amp;P 500 outperforming other years with President <strong>Joe Biden</strong> leading the country for the last <a href="https://www.benzinga.com/general/education/24/02/37275812/if-you-invested-in-the-s-p-500-when-joe-biden-became-president-heres-how-much-youd-have-today">nearly four years.</a></p>
<p>With the 2024 presidential election nearing, here's a look back at the top performing S&amp;P 500 stocks in 2021, which was Biden's first year in the White House.</p>
<p><strong>What Happened: </strong>Biden stepped down from <a href="https://www.benzinga.com/topic/2024-election">the 2024 presidential election </a>earlier this year. While the current president won't be re-elected to the White House, past performance with a Democrat as president could highlight which stocks and sectors could be winners if <strong>Kamala Harris</strong> is victorious in Tuesday's election.</p>
<p>The S&amp;P 500, which is tracked by the <strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 26.9% in 2021. This marked the best yearly performance since 2018 and the second-best performance for the key stock market index in the last 11 years.</p>
<p>The 12 months following Election Day 2020, which was won by Biden, <a href="https://www.benzinga.com/news/22/01/25137004/biden-vs-trump-how-did-stock-market-returns-compare-after-their-first-year-as-president">saw the S&amp;P 500 gain 37.4%.</a> This was the best one-year market return under a president in many years.</p>
<p>Here were the 10 best-performing S&amp;P 500 stocks in 2021, according to a <a href="https://finance.yahoo.com/news/top-10-best-performing-stocks-190949855.html">report </a>from InvestorPlace, and their sectors.</p>
<ol>
<li><strong>Devon Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>): 196.1%, energy</li>
<li><strong>Marathon Oil</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>): 149.7%, energy</li>
<li><strong>Moderna </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>): 143.1%, health care/biotech</li>
<li><strong>Fortinet </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>): 142.0%, technology/cybersecurity</li>
<li><strong>Signature Bank </strong>(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBNY#OTC">SBNY</a>): 141.5%, financials</li>
<li><strong>Ford </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>): 137.5%, automotive</li>
<li><strong>Bath &amp; Body Works </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>): 133.7%, consumer discretionary/retail</li>
<li><strong>Diamondback Energy</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>): 127.4%, energy</li>
<li><strong>NVIDIA Corporation </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 125.5%, technology/semiconductors</li>
<li><strong>Nucor </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>): 118.4%, industrials</li>
</ol>
<p>The results above show that energy was a top sector in 2021 and represented several of the top-performing stocks for the year. Technology also had several companies on the list.</p>
<p><strong>Did You Know?</strong></p>
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent103124"><strong>Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</strong></a></li>
</ul>
<p><strong>Why It's Important</strong>: Click through <a href="https://www.benzinga.com/general/politics/24/10/41584466/these-10-stocks-were-the-best-s-p-500-performers-in-2017-when-trump-was-president-will-history-r">to see the 10 best</a> and <a href="https://www.benzinga.com/general/politics/24/10/41606114/10-s-p-500-stocks-were-worst-performers-in-first-year-of-trumps-presidency-will-they-sink-again">10 worst-performing</a> S&amp;P 500 stocks of 2017, <strong>Donald Trump</strong>'s first year in the White House.</p>
<p>The list above included Nvidia, which was also a top 10 winner in 2017, during Donald Trump's first year in the White House.</p>
<p><span style="box-sizing: border-box; margin: 0px; padding: 0px;"><a href="https://www.benzinga.com/topic/signature-bank" target="_blank" rel="noopener"><strong>Signature Bank</strong></a>, which was the third-largest bank failure in U.S. history, was a top performer in 2017.</span></p>
<p>Investors should consider whether these past results could repeat if Harris is elected and begins her presidential term in 2025. Energy isn't often thought of as a segment that could do well under a Democratic president, but past results show that the sector could do well, at least in the first year.</p>
<p>Coincidentally, energy was cited as a potential poor sector if Trump wins the 2024 election based on the 2017 results. What likely happened in 2017, and what could happen again, is a run-up in stocks during the election year and a potential selloff in the year after as investors take profits.</p>
<p>With less than one week until the 2024 election, investors are likely positioning their portfolio based on a Trump or&nbsp;Harris&nbsp;victory in some regards. With a close election predicted, investors may want to look to sectors that could benefit under either candidate.</p>
<p><strong>Freedom Capital Markets&nbsp;</strong>Chief Global Strategist<strong>&nbsp;Jay Woods&nbsp;</strong>previously<a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40515453/exclusive-trump-or-harris-12-stocks-2-etfs-could-win-no-matter-whos-president-says-market-strate" target="_blank" rel="noreferrer noopener">&nbsp;shared some sectors&nbsp;</a>and stocks to watch with Benzinga that could benefit regardless of whether Trump or Harris wins the 2024 election.</p>
<p>Woods named defense stocks and cybersecurity stocks as two of the top sectors to watch ahead of the 2024 election.</p>
<p>&#8220;I think you&#8217;ve got to watch this sector closely,&#8221; Woods said of the defense sector.</p>
<p>Woods added that defense stocks could continue to benefit from geopolitical concerns and the world's many adverse events.</p>
<p><strong>Read Next: </strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">Trump Vs. Harris: State-By-State 2024 Election Betting Odds, Which Candidate Is Favored To Win In Your Community?</a></strong></li>
</ul>
<p><em>Photo: Shutterstock</em></p>


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These 10 Stocks Were S&P 500's Top Performers In Biden's First Year: Could Trend Continue If Harris Wins 2024 Election?

<p>Whales with a lot of money to spend have taken a noticeably bearish stance on <strong>Devon Energy</strong>.</p>
<p>Looking at options history for Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) we detected 11 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 9% of the investors opened trades with bullish expectations and 72% with bearish.</p>
<p>From the overall spotted trades, 8 are puts, for a total amount of $571,117 and 3, calls, for a total amount of $213,626.</p>
<h3>Predicted Price Range</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $47.5 for Devon Energy during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 734.88 with a total volume of 2,107.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Devon Energy's big money trades within a strike price range of $35.0 to $47.5 over the last 30 days.</p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1730215833_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$7.6</td>
<td>$7.5</td>
<td>$7.6</td>
<td>$45.00</td>
<td>$184.6K</td>
<td style="text-align: right;">316</td>
<td style="text-align: right;">386</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$5.3</td>
<td>$5.2</td>
<td>$5.3</td>
<td>$42.50</td>
<td>$144.6K</td>
<td style="text-align: right;">878</td>
<td style="text-align: right;">274</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.9</td>
<td>$5.75</td>
<td>$5.8</td>
<td>$37.50</td>
<td>$117.7K</td>
<td style="text-align: right;">320</td>
<td style="text-align: right;">204</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$7.7</td>
<td>$7.6</td>
<td>$7.7</td>
<td>$45.00</td>
<td>$72.3K</td>
<td style="text-align: right;">316</td>
<td style="text-align: right;">33</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$40.00</td>
<td>$59.3K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">114</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.</p>
<h3>Where Is Devon Energy Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,148,894, the DVN's price is down by -0.39%, now at $38.44. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.</p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


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Spotlight on Devon Energy: Analyzing the Surge in Options Activity

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Shares of oil and oil-related companies are trading lower after Israel reportedly did not damage Iran's oil sites amid strikes over the weekend.

<p>Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) underwent analysis by 18 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.</p>
<p>The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">12</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>The 12-month price targets, analyzed by analysts, offer insights with an average target of $52.39, a high estimate of $63.00, and a low estimate of $45.00. A 9.67% drop is evident in the current average compared to the previous average price target of $58.00. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1729260012_0.png" alt="price target chart" /></p>
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
<p>The standing of Devon Energy among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$62.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$56.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Paul Cheng</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$48.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$51.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Phillip Jungwirth</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$48.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$46.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Anthony Linton</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Hold</td>
<td>$45.00</td>
<td>-</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$50.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Stephen Richardson</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$50.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$49.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$47.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Devin McDermott</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$51.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Arun Jayaram</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$51.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$63.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$57.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Mark Lear</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$57.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$55.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$57.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Devon Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Devon Energy compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
<p>Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Devon Energy's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/DVN/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Devon Energy analyst ratings.</strong></a></p>
<h2>Delving into Devon Energy's Background</h2>
<p>Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.</p>
<h3>Breaking Down Devon Energy's Financial Performance</h3>
<p><strong>Market Capitalization Highlights:</strong> Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.</p>
<p><strong>Positive Revenue Trend:</strong> Examining Devon Energy's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of <strong>13.4%</strong> as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.</p>
<p><strong>Net Margin:</strong> Devon Energy's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>21.55%</strong> net margin, the company effectively manages costs and achieves strong profitability.</p>
<p><strong>Return on Equity (ROE):</strong> Devon Energy's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>6.83%</strong> ROE, the company effectively utilizes shareholder equity capital.</p>
<p><strong>Return on Assets (ROA):</strong> Devon Energy's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>3.37%</strong> ROA, the company effectively utilizes its assets for optimal returns.</p>
<p><strong>Debt Management:</strong> With a below-average debt-to-equity ratio of <strong>0.51</strong>, Devon Energy adopts a prudent financial strategy, indicating a balanced approach to debt management.</p>
<h2>Understanding the Relevance of Analyst Ratings</h2>
<p>Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.</p>
<p>Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.</p>
<p>If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>
<p><strong>Which Stocks Are Analysts Recommending Now?</strong></p>
<p>Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights"><strong>Click here to stay ahead of the market</strong></a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Analyst Ratings

In-Depth Examination Of 18 Analyst Recommendations For Devon Energy

<p>Susquehanna  analyst Biju Perincheril   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Positive and lowers the price target from $63 to $62.</p>


News

Price Target

Susquehanna Maintains Positive on Devon Energy, Lowers Price Target to $62

<p>Piper Sandler  analyst Mark Lear   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Overweight and lowers the price target from $57 to $56.</p>


Piper Sandler Maintains Overweight on Devon Energy, Lowers Price Target to $56

CRGY

EONR

INDO

MTDR

TRGP

Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

<p>Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) revealed 13 unusual trades.</p>
<p>Delving into the details, we found 15% of traders were bullish, while 84% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $201,332, and 9 were calls, valued at $531,114.</p>
<h3>Predicted Price Range</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $50.0 for Devon Energy over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 2200.56 with a total volume of 3,102.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Devon Energy's big money trades within a strike price range of $40.0 to $50.0 over the last 30 days.</p>
<h3>Devon Energy 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728927938_0.png" alt="Options Call Chart" /></p>
<h3>Largest Options Trades Observed:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$4.9</td>
<td>$4.8</td>
<td>$4.8</td>
<td>$40.00</td>
<td>$139.6K</td>
<td>508</td>
<td style="text-align: right;">426</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.9</td>
<td>$5.8</td>
<td>$5.9</td>
<td>$47.50</td>
<td>$107.9K</td>
<td>6.1K</td>
<td style="text-align: right;">252</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.53</td>
<td>$2.52</td>
<td>$2.52</td>
<td>$42.50</td>
<td>$77.3K</td>
<td>2.7K</td>
<td style="text-align: right;">318</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$5.05</td>
<td>$4.8</td>
<td>$4.8</td>
<td>$40.00</td>
<td>$64.8K</td>
<td>508</td>
<td style="text-align: right;">135</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$5.0</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$50.00</td>
<td>$49.0K</td>
<td>220</td>
<td style="text-align: right;">200</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.</p>
<p>In light of the recent options history for Devon Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>With a volume of 2,430,862, the price of DVN is down -0.52% at $42.73. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 22 days.</li>
</ul>
<h3>Professional Analyst Ratings for Devon Energy</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $48.8.</p>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Devon Energy, targeting a price of $51.<br />
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Devon Energy with a target price of $46.<br />
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Devon Energy, maintaining a target price of $50.<br />
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Devon Energy, targeting a price of $47.<br />
&#x2A; Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Devon Energy, targeting a price of $50. </p>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Devon Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.</p>


<p>Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) has outperformed the market over the past 5 years by 2.2% on an annualized basis producing an average annual return of 16.59%. Currently, Devon Energy has a market capitalization of $28.02 billion. </p>
<p><strong>Buying $1000 In DVN:</strong> If an investor had bought $1000 of DVN stock 5 years ago, it would be worth <strong>$2,093.23</strong> today based on a price of $42.56 for DVN at the time of writing.</p>
<h3>Devon Energy's Performance Over Last 5 Years</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728927019_0.png" alt="comp_fig" /></p>
<p>Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.</p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Here's How Much You Would Have Made Owning Devon Energy Stock In The Last 5 Years

<p>Scotiabank  analyst Paul Cheng   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Sector Outperform and lowers the price target from $60 to $48.</p>


Scotiabank Maintains Sector Outperform on Devon Energy, Lowers Price Target to $48

<p>Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) revealed 12 unusual trades.</p>
<p>Delving into the details, we found 33% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $617,786, and 8 were calls, valued at $276,435.</p>
<h3>Expected Price Movements</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for Devon Energy during the past quarter. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Devon Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Devon Energy's whale trades within a strike price range from $35.0 to $50.0 in the last 30 days. </p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728504161_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$9.85</td>
<td>$9.75</td>
<td>$9.75</td>
<td>$50.00</td>
<td>$284.7K</td>
<td>0</td>
<td style="text-align: right;">296</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.15</td>
<td>$3.05</td>
<td>$3.15</td>
<td>$42.50</td>
<td>$157.5K</td>
<td>6.4K</td>
<td style="text-align: right;">502</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$2.37</td>
<td>$2.3</td>
<td>$2.33</td>
<td>$42.50</td>
<td>$104.1K</td>
<td>759</td>
<td style="text-align: right;">447</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.6</td>
<td>$4.55</td>
<td>$4.55</td>
<td>$45.00</td>
<td>$71.4K</td>
<td>1.4K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$8.15</td>
<td>$7.85</td>
<td>$7.85</td>
<td>$37.50</td>
<td>$50.2K</td>
<td>269</td>
<td style="text-align: right;">65</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.</p>
<p>Following our analysis of the options activities associated with Devon Energy, we pivot to a closer look at the company's own performance.</p>
<h3>Current Position of Devon Energy</h3>
<ul>
<li>Trading volume stands at 4,722,358, with DVN's price up by 0.72%, positioned at $41.98.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 27 days.</li>
</ul>
<h3>What Analysts Are Saying About Devon Energy</h3>
<p>Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $47.4.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
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&#x2A; Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Devon Energy, targeting a price of $50.<br />
&#x2A; An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $49.<br />
&#x2A; An analyst from Barclays persists with their Equal-Weight rating on Devon Energy, maintaining a target price of $46.<br />
&#x2A; In a cautious move, an analyst from Jefferies downgraded its rating to Hold, setting a price target of $45.<br />
&#x2A; An analyst from UBS persists with their Neutral rating on Devon Energy, maintaining a target price of $47. </p>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Devon Energy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Check Out What Whales Are Doing With DVN

<p>Mizuho  analyst Nitin Kumar   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Outperform and lowers the price target from $53 to $51.</p>


Mizuho Maintains Outperform on Devon Energy, Lowers Price Target to $51

CEIX

CGBS

CIVI

Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

<p><strong>Devon Energy's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) short percent of float has risen 9.72% since its last report. The company recently reported that it has <strong>19.20 million shares sold short</strong>, which is 3.5% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 2.59 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Devon Energy Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1728071115_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Devon Energy has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.</p>
<h3>Comparing Devon Energy's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Devon Energy's peer group average for short interest as a percentage of float is 6.72%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

Looking Into Devon Energy's Recent Short Interest

<p>Shares of U.S. energy giants surged this week, marking the strongest performance in two years, as fears of a wider conflict in the Middle East between Iran and Israel drove oil prices <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">to $75 per barrel. </a></p>
<p>The <strong>Energy Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks 31 major U.S. energy companies, including giants like <strong>Exxon</strong> <strong>Mobil Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and <strong>Chevron Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), recorded a remarkable 6.4% gain this week.</p>
<p>Investors poured nearly $300 million into the XLE ETF this week, the highest inflow since late July, according to Tradingview data.</p>
<p>Exxon Mobil, the largest U.S. oil company, reached a record high of $125 per share on Friday. The stock posted its sixth consecutive day of gains, ending the week up over 7%, marking its best performance since October 2022.</p>
<p>Oil prices continued their rally, with West Texas Intermediate (WTI) crude recording its fourth straight day of gains, hitting levels last seen in late August. The geopolitical tensions between Israel and Iran have sparked concerns over global oil supply disruptions.</p>
<h3 class="wp-block-heading"><strong>Rising Middle East Tensions, Biden Calls For Measured Israeli Response</strong></h3>
<p>Israel promised a strong retaliation after Iran launched more than 180 ballistic missiles on Tuesday. While Israel&#8217;s air defense systems successfully intercepted most of the missiles, the attack further intensified the already heightened regional instability.</p>
<p>On Friday, President <strong>Joe Biden</strong> addressed the escalating crisis during a rare appearance at the White House daily press briefing. He mentioned Israel&#8217;s right to defend itself but said the country had not yet decided how it would respond to Iran&#8217;s ballistic missile strike.</p>
<p>Biden said he advised Israel against further escalating the conflict, suggesting that Israel might consider alternatives to targeting oil fields in its retaliation.</p>
<p>In his first public appearance since the attack, Iran's Supreme Leader <strong>Ayatollah Ali Khamenei</strong> defended the strike as &#8220;legitimate punishment&#8221; for what he called Israeli crimes and urged greater resistance against Israel in the region, Reuters reported.</p>
<p>Iran's deputy commander of the Islamic Revolutionary Guard Corps also issued a stark warning, stating that Iran could target Israeli oil refineries and gas fields if Israel chooses to strike Iranian territory.</p>
<h3 class="wp-block-heading">This Week&#8217;s Top 10 Performing US Energy Stocks</h3>
<p>U.S. energy stocks posted sharp gains, with the top performers this week including:</p>
<p><figure class="wp-block-table is-style-stripes"><br />
<table>
<tbody>
<tr>
<td><strong>Name</strong></td>
<td><strong>Price Chg. % (5D)</strong></td>
<td><strong>Market Cap</strong></td>
</tr>
<tr>
<td><strong>Diamondback Energy, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>13.62%</td>
<td>$57.14B</td>
</tr>
<tr>
<td><strong>APA Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>9.36%</td>
<td>$9.92B</td>
</tr>
<tr>
<td><strong>The Williams Companies, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>)</td>
<td>9.04%</td>
<td>$60.02B</td>
</tr>
<tr>
<td><strong>Marathon Oil Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>8.44%</td>
<td>$16.06B</td>
</tr>
<tr>
<td><strong>Occidental Petroleum Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>8.35%</td>
<td>$51.71B</td>
</tr>
<tr>
<td><strong>Halliburton Company</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>)</td>
<td>8.25%</td>
<td>$27.38B</td>
</tr>
<tr>
<td><strong>ConocoPhillips</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>8.19%</td>
<td>$131.57B</td>
</tr>
<tr>
<td><strong>EOG Resources, Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>8.05%</td>
<td>$75.23B</td>
</tr>
<tr>
<td><strong>Devon Energy Corporation</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>7.94%</td>
<td>$26.33B</td>
</tr>
<tr>
<td><strong>Kinder Morgan, Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</td>
<td>7.82%</td>
<td>$52.15B</td>
</tr>
</tbody>
</table>
<p></p></figure></p>
<p><strong>Read Next:</strong></p>
<ul>
<li><strong><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">&#8216;Blowout&#8217; September Jobs Report Spurs Reactions: 6 Economists Say Aggressive Fed Rate Cuts May Face Obstacles</a></strong></li>
</ul>
<p><em>Photo: Shutterstock</em></p>


Macro Economic Events

Sector ETFs

Commodities

Econ #s

Economics

ETFs

US Energy Stocks Notch Biggest Weekly Gains In 2 Years, Exxon Hits Record Highs As Crude Surges To $75 On Israel-Iran Jitters

<p>BMO Capital  analyst Phillip Jungwirth   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Outperform and lowers the price target from $52 to $48.</p>


BMO Capital Maintains Outperform on Devon Energy, Lowers Price Target to $48

<p>Barclays  analyst Betty Jiang   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Equal-Weight and lowers the price target from $55 to $46.</p>


Barclays Maintains Equal-Weight on Devon Energy, Lowers Price Target to $46

<p>Jefferies  analyst Anthony Linton   initiates coverage on Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Hold rating and announces Price Target of $45.</p>


Initiation

Jefferies Initiates Coverage On Devon Energy with Hold Rating, Announces Price Target of $45

<p>Wells Fargo  analyst Roger Read   maintains Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) with a Overweight and lowers the price target from $55 to $50.</p>


Wells Fargo Maintains Overweight on Devon Energy, Lowers Price Target to $50

<p>Whales with a lot of money to spend have taken a noticeably bullish stance on <strong>Devon Energy</strong>.</p>
<p>Looking at options history for Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) we detected 10 trades.</p>
<p>If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 40% with bearish.</p>
<p>From the overall spotted trades, 3 are puts, for a total amount of $159,360 and 7, calls, for a total amount of $334,843.</p>
<h3>Projected Price Targets</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $55.0 for Devon Energy over the last 3 months. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Devon Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Devon Energy's whale trades within a strike price range from $30.0 to $55.0 in the last 30 days. </p>
<h3>Devon Energy Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1727801179_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$8.4</td>
<td>$8.1</td>
<td>$8.1</td>
<td>$32.50</td>
<td>$81.0K</td>
<td>0</td>
<td>0</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$16.7</td>
<td>$14.55</td>
<td>$15.7</td>
<td>$55.00</td>
<td>$78.5K</td>
<td>0</td>
<td>0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$0.22</td>
<td>$0.2</td>
<td>$0.22</td>
<td>$40.50</td>
<td>$55.8K</td>
<td>11.4K</td>
<td>2.8K</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.99</td>
<td>$0.96</td>
<td>$0.99</td>
<td>$40.00</td>
<td>$52.8K</td>
<td>5.0K</td>
<td>1.1K</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$0.56</td>
<td>$0.51</td>
<td>$0.55</td>
<td>$39.50</td>
<td>$50.8K</td>
<td>1.1K</td>
<td>934</td>
</tr>
</tbody>
</table>
</p>
<h3>About Devon Energy</h3>
<p>Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.</p>
<p>After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>Trading volume stands at 5,749,066, with DVN's price up by 1.48%, positioned at $39.7.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 35 days.</li>
</ul>
<h3>Expert Opinions on Devon Energy</h3>
<p>A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $52.4.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights"><strong>Click here for access</strong></a>.<br />
&#x2A; An analyst from UBS persists with their Neutral rating on Devon Energy, maintaining a target price of $47.<br />
&#x2A; Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Devon Energy with a target price of $63.<br />
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $51.<br />
&#x2A; An analyst from Evercore ISI Group persists with their In-Line rating on Devon Energy, maintaining a target price of $50.<br />
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Devon Energy, targeting a price of $51. </p>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Devon Energy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


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