Looking Into Devon Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's (NYSE:DVN) short interest has increased by 6.75% since the last report, with 15.01 million shares sold short, representing 2.69% of its float. It would take about 1.8 days to cover these short positions based on current trading volume. This rise in short interest can indicate a more bearish market sentiment towards DVN, although it's not a definitive predictor of stock price movement. Devon Energy has a lower short interest compared to its peer group average of 6.38%.
February 15, 2024 | 4:45 pm
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Devon Energy's short interest has increased, indicating a potentially more bearish sentiment towards the stock. However, it's below the peer group average, suggesting relative strength.
The increase in short interest for Devon Energy suggests that there might be a bearish sentiment building among investors. However, the fact that it's below the peer average could indicate that it's not as bearish compared to its peers, or it might be seen as having relative strength. The impact on the stock price in the short term is uncertain, as short interest is just one of many factors that can influence stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90