Large Inflow of Money Detected in Devon Energy Corporation

Devon Energy Corporation (DVN): $1.74 million was the positive money flow into the stock on Wednesday and the up/down ratio of ticks was also in favor of the bulls at 1.08. The value of trades done on upticks was $22.68 million, whereas, trades done on downticks were valued at $20.94 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $2.03 million worth stocks on upticks, which is a bullish indication. The downticks accounted only for $1.52 million worth of block trades showing a lack of interest among the large traders to sell the stock down. The up/down ratio of 1.34 was strongly in favor of the bulls. The money flow in block trades was $0.51 million. Devon Energy Corporation (DVN) fell $0.08 traded at $37.67, a change of -0.2% over the previous day. The stock is -1.61% for the week.


Also, Barclays maintains its view on Devon Energy Corporation (NYSE:DVN) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Barclays raises the price target from $38 per share to $43 per share on Devon Energy Corporation. The rating by the firm was issued on July 14, 2016.

Devon Energy Corporation (NYSE:DVN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $37.31 and $36.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $37.96, notching a gain of 0.56% for the day. The total traded volume was 6,062,031 . The stock had closed at $37.75 on the previous day.

The stock has recorded a 20-day Moving Average of 1.54% and the 50-Day Moving Average is 5.47%. 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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