Shares of Devon Energy Corporation (DVN) Sees Large Outflow of Money

Devon Energy Corporation (DVN) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (24.74 million) in Devon Energy Corporation (DVN). On Tuesday, The value of composite uptick trades was $34.91 million, whereas, the value of composite downtick trades was $59.64 million and the ratio between the two was 0.59, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $28 million. $4.9 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.18. The negative money flow of ($23.09 million) shows selling on strength. Devon Energy Corporation (DVN) gained $0.58 intraday at $45.01 and registrered 1.31% for the week.


Also, In a research note released to the investors, Argus Research maintains its rating on Devon Energy Corporation (NYSE:DVN).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Argus Research raises the new price target from $51 per share to $61 per share. The rating by the firm was issued on August 23, 2016.

Devon Energy Corporation has dropped 1.75% in the last five trading days, however, the shares have posted positive gains of 23.75% in the last 4 weeks. Devon Energy Corporation is up 23.14% in the last 3-month period. Year-to-Date the stock performance stands at 40.61%.

Devon Energy Corporation (NYSE:DVN): The stock opened at $45.28 on Tuesday but the bulls could not build on the opening and the stock topped out at $45.62 for the day. The stock traded down to $44.03 during the day, due to lack of any buying support eventually closed down at $44.44 with a loss of -1.27% for the day. The stock had closed at $45.01 on the previous day. The total traded volume was 5,286,700 shares.

In a related news, Henry Robert H., director of Devon Energy Corp/De, unloaded 7,100 shares at an average price of $37.43 on June 20, 2016. The total amount of the transaction was worth $265,753, according to the disclosed information 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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