Deep-pocketed investors have adopted a bullish approach towards Devon Energy DVN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 36% bearish. Among these notable options, 9 are puts, totaling $446,293, and 2 are calls, amounting to $135,000.
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What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $55.0 for Devon Energy over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Devon Energy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Devon Energy's significant trades, within a strike price range of $45.0 to $55.0, over the past month.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | NEUTRAL | 06/20/25 | $5.7 | $5.65 | $5.7 | $50.00 | $91.2K | 4.3K | 237 |
| DVN | CALL | SWEEP | BEARISH | 09/20/24 | $3.1 | $3.0 | $3.0 | $50.00 | $88.8K | 8.4K | 4 |
| DVN | PUT | SWEEP | BULLISH | 01/17/25 | $5.5 | $5.4 | $5.4 | $52.50 | $75.0K | 1.7K | 139 |
| DVN | PUT | SWEEP | BULLISH | 01/17/25 | $5.4 | $5.35 | $5.35 | $52.50 | $54.0K | 1.7K | 240 |
| DVN | PUT | SWEEP | NEUTRAL | 06/20/25 | $3.6 | $3.55 | $3.6 | $45.00 | $50.4K | 4.3K | 247 |
About Devon Energy
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Where Is Devon Energy Standing Right Now?
- With a volume of 2,036,746, the price of DVN is down -0.39% at $49.71.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 77 days.
Professional Analyst Ratings for Devon Energy
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $63.2.
- An analyst from Stifel persists with their Buy rating on Devon Energy, maintaining a target price of $66.
- An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $69.
- An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $67.
- An analyst from Mizuho persists with their Buy rating on Devon Energy, maintaining a target price of $57.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Devon Energy, which currently sits at a price target of $57.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Devon Energy, Benzinga Pro gives you real-time options trades alerts.
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