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 indicated by unusual options activity. The overall sentiment of these big-money traders is split between 42% bullish and 57% bearish. The whales have been targeting a price range from $46.5 to $60.0 for Devon Energy over the last 3 months. Citigroup, Wells Fargo, and Mizuho have maintained their Buy and Equal-Weight ratings on Devon Energy, with price targets of $55, $51, and $62 respectively.
September 27, 2023 | 7:00 pm
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Unusual options activity indicates a bearish stance on Devon Energy. The sentiment of big-money traders is split, with a slight lean towards bearish. Analysts maintain Buy and Equal-Weight ratings with price targets ranging from $51 to $62.
The unusual options activity, with a bearish lean, indicates that large investors are expecting a potential drop in Devon Energy's stock price. This could lead to increased selling pressure on the stock. However, the maintained Buy and Equal-Weight ratings from analysts suggest a positive outlook, which could counterbalance some of the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100