Looking At Devon Energy's Recent 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 sentiment among these big-money traders is 90% bearish. Whales have been targeting a price range from $39.0 to $52.5 for Devon Energy over the last 3 months. The current price of DVN is $46.08. Analysts from Mizuho, Morgan Stanley, Citigroup, and UBS have maintained their ratings on Devon Energy with price targets ranging from $51 to $62.
October 10, 2023 | 8:30 pm
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NEGATIVE IMPACT
Unusual options activity indicates a bearish stance on Devon Energy. Analysts maintain their ratings with price targets from $51 to $62.
The unusual options activity, which is heavily bearish, indicates that large investors expect the price of Devon Energy to decrease. This could put downward pressure on the stock. However, analysts have maintained their ratings, suggesting they believe the company's fundamentals remain strong.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100