Devon Energy Corporation (DVN) has been rated by 20 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $61 and the lowest price target forecast is $30. The average forecast of all the analysts is $43.25 and the expected standard deviation is $9.71.
Devon Energy Corporation (DVN) stated loss of 1,701,851 shares or 11.1% in the short interest. The short interest registered from 15,285,416 on June 15,2016 to 13,583,565 on June 30,2016. In terms of floated shares, the shorted positions stood at 2.7%. The stock has been averaging 10,489,951 shares daily in trading and would need 1 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, CLSA initiates coverage on Devon Energy Corporation (NYSE:DVN). According to the latest information available, the shares are now rated Outperform by the analysts at the agency. The rating by the firm was issued on June 22, 2016.
Devon Energy Corporation (NYSE:DVN): On Thursdays trading session , Opening price of the stock was $39.83 with an intraday high of $39.9. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $38.28. However, the stock managed to close at $38.39, a loss of 1.56% for the day. On the previous day, the stock had closed at $39. The total traded volume of the day was 6,364,064 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.