TMCnet - World's Largest Communications and Technology Community

TMCNet:  Downgrade Alert for Devon Energy (DVN)

[November 09, 2012]

Downgrade Alert for Devon Energy (DVN)

Nov 09, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Devon Energy (NYSE:DVN) was downgraded from Accumulate to Hold at Tudor Pickering today. The stock closed yesterday at $54.02 on volume of 6.7 million shares, above average daily volume of 2.5 million. Devon Energy Corporation is an independent energy company that is involved primarily in oil and gas exploration, development and production, the transportation of oil, gas, and NGLs and the processing of natural gas. The Company also has marketing and midstream operations primarily in North America that include gas, crude oil and NGLs.

There is potential upside of 58.3% for shares of Devon Energy based on a current price of $54.02 and an average consensus analyst price target of $85.52. Devon Energy shares should first meet resistance at the 50-day moving average (MA) of $60.21 and find additional resistance at the 200-day MA of $63.11.

In the past 52 weeks, Devon Energy share prices have been bracketed by a low of $53.84 and a high of $76.34 and closed yesterday at $54.02, 0% above that low price. The 200-day and 50-day moving averages have moved 0.14% lower and 0.22% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Devon Energy on October 24th, 2012 by issuing a Downtrend alert when the shares were trading at $59.36. Since that call, shares of Devon Energy have fallen 9.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

[ Back To Technology News's Homepage ]


Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2014 Technology Marketing Corporation. All rights reserved.