Large Outflow of Money Witnessed in Devon Energy Corporation

Devon Energy Corporation (DVN) : The total negative money flow of $1.83 million on Friday indicates selling on strength. The inflow of money on upticks was $11.88 million, compared to $13.71 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.87. The negative money flow of $0.88 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $1.22 million in a block trade.The transaction value of block trade on downtick was $2.11 million. The uptick to downtick ratio was 0.58. The price action in the Devon Energy Corporation (DVN) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $37.62 with a gain of $0.29 , a change of 0.78% over the previous days close. The stock registered -1.75% for the week.


Devon Energy Corporation (DVN) : Average target price received by Devon Energy Corporation (DVN) is $44.75 with an expected standard deviation of $9.18. The most aggressive target on the stock is $61, whereas the most downbeat target is $30. 20 financial analysts are currently covering the stock.

Devon Energy Corporation (NYSE:DVN): stock turned positive on Friday. Though the stock opened at $37.6, the bulls momentum made the stock top out at $37.93 level for the day. The stock recorded a low of $37.22 and closed the trading day at $37.75, in the green by 1.13%. The total traded volume for the day was 4,792,544. The stock had closed at $37.33 in the previous days trading.

In a related news,The director of Devon Energy Corp/De, Henry Robert H. sold 7,100 shares at $37.43 on June 20, 2016. The Insider selling transaction had a total value worth of $265,753. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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