This Is What Whales Are Betting On Devon Energy
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Devon Energy (NYSE:DVN) by a large investor, as indicated by unusual options trades. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The whales have been targeting a price range from $50.0 to $65.0 for Devon Energy over the last 3 months. Several financial institutions have maintained their ratings on Devon Energy, with price targets ranging from $55 to $77.

August 21, 2023 | 6:01 pm
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NEGATIVE IMPACT
A large investor has taken a bearish stance on Devon Energy, with unusual options trades indicating a price target range of $50.0 to $65.0. Several financial institutions have maintained their ratings on the company, with price targets ranging from $55 to $77.
The bearish stance taken by a large investor, as indicated by unusual options trades, suggests that there may be negative sentiment towards Devon Energy. This, combined with the fact that the sentiment among big-money traders is more bearish than bullish, could potentially lead to a decrease in the company's stock price in the short term. However, the maintained ratings and price targets from several financial institutions suggest that the company's long-term prospects may still be positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100