Devon Energy Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Devon Energy (NYSE:DVN) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is 20% bullish and 79% bearish. The price target for Devon Energy over the last 3 months has been between $50.0 to $60.0. Morgan Stanley, Citigroup, and RBC Capital have maintained their ratings on Devon Energy with price targets of $50, $57, and $60 respectively.
July 18, 2023 | 2:31 pm
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Devon Energy has seen unusual options activity with a significant bearish sentiment. Analysts from Morgan Stanley, Citigroup, and RBC Capital have maintained their ratings with price targets of $50, $57, and $60 respectively.
The bearish sentiment observed in the unusual options activity indicates that large investors are expecting the price of Devon Energy to decrease. This, combined with the maintained ratings from analysts, suggests that the stock price may experience downward pressure in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100