How Will the Market React to Devon Energy Corp (DVN) Stock Getting a Bullish Rating

Wednesday, August 5, 2020 10:04 AM | InvestorsObserver Analysts

Devon Energy Corp (DVN) stock is higher by 7.10% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.

Sentiment Score - ,bullish
Devon Energy Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on DVN!

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With DVN Stock Today?

Devon Energy Corp (DVN) stock is trading at $11.61 as of 10:04 AM on Wednesday, Aug 5, an increase of $0.52, or 4.69% from the previous closing price of $11.09. The stock has traded between $11.56 and $12.01 so far today. Volume today is below average. So far 2,052,320 shares have traded compared to average volume of 8,548,499 shares.

To see InvestorsObserver's Sentiment Score for Devon Energy Corp click here.

More About Devon Energy Corp

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base in spread throughout onshore North America with franchise development assets in the Stack and Delaware Basin. Other shale assets include acreage in the Eagle Ford, Powder River Basin, and Barnett. The company also holds oil sands operations in Alberta, Canada. At year-end 2018, Devon's proven reserves totaled 1,927 million barrels of oil equivalent with net production of 535 mboe/d. Oil and natural gas liquids made up 66% of production and 59% of proven reserves.

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