Devon Energy Corporation (DVN) : Traders are bullish on Devon Energy Corporation (DVN) as it has outperformed the S&P 500 by a wide margin of 16.98% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.42%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.38% in the last 1 week, and is up 17.43% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Devon Energy Corporation is up 29.65% in the last 3-month period. Year-to-Date the stock performance stands at 40.27%. The stock has recorded a 20-day Moving Average of 12.92% and the 50-Day Moving Average is 16.96%.
Devon Energy Corporation (NYSE:DVN): The stock opened at $44.47 on Friday but the bulls could not build on the opening and the stock topped out at $44.73 for the day. The stock traded down to $43.86 during the day, due to lack of any buying support eventually closed down at $44.33 with a loss of -0.96% for the day. The stock had closed at $44.76 on the previous day. The total traded volume was 4,460,593 shares.
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 $43 per share to $45 per share on Devon Energy Corporation. The rating by the firm was issued on August 4, 2016.
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.