Looking At Devon Energy's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Recent unusual options activity on Devon Energy (NYSE:DVN) indicates a bearish stance by large investors, with a split sentiment of 36% bullish and 63% bearish. The activity includes 30 uncommon trades, with 7 puts and 23 calls, targeting a price window of $45.0 to $65.0. Devon Energy, a major exploration and production company, has seen its stock price slightly increase to $52.65. Analysts have set an average price target of $60.0, with varying ratings from Buy to Sector Perform.
April 05, 2024 | 5:31 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Devon Energy's unusual options activity, with a bearish sentiment among large investors, could indicate potential volatility. Analysts' average price target is $60, with current stock at $52.65.
The bearish sentiment from large investors through unusual options activity suggests potential short-term volatility for DVN. However, the analysts' optimistic price targets and the current positive stock price movement provide a counterbalance, making the short-term impact neutral but worth monitoring for potential shifts.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100