Jul 29, 2022 - Jack Dalton
New Analyst Price Target Set for the DVN Stock
An Evercore ISI analyst just upgraded Devon energy corporation (DVN) stock. The analyst envisions a potential 50.04 upside for DVN shares. DVN stock has jumped nearly 1.84%, just based on this upgrade news.
Devon energy corporation (NYSE: DVN) has faced a challenging market environment in 2022 so far. However, a fresh upgrade from one Evercore ISI analyst is spurring traders to send DVN stock higher today.
What does this Upgrade mean for DVN Stock?
This upgrade couldn't have come at a better time for Devon energy corporation as their investors have endured recent hardships. DVN stock has been heading toward a crash landing over the past year and has fallen from a 52-week high of $78.1 to its current price of $60.37.
However, there is some good that has come from DVN's poor recent performance. DVN's recent adversity has resulted in a great opportunity for investors, as their financial ratios are more attractive now than they have previously been. These attractive ratios could have been an influencing factor in Evercore ISI's decision to upgrade its outlook on the DVN stock.
Evercore ISI is foreseeing a “better risk/reward ratio” for the DVN stock now than they have previously. With that being said, Evercore ISI raised their price target to $80, as they expect Devon energy corporation's market share to continue increasing.
If Evercore ISI's predictions pan out it could mean more than just a 50.04% upside, as it could encourage further growth in the DVN stock.
Here are the latest analytics from the DVN Stocktwits and DVN Twitter communities (over the last 24hrs):
As we can see, the recent Evercore ISI analyst upgrade had a different effect on the social sentiment within both the DVN Stocktwits and DVN Twitter communities.
Stay Ahead of The Market By Tracking Real-Time DVN Stock Trends
As you can see, the sentiment varies drastically between the DVN Stocktwits and the DVN Twitter communities. The sentiment in the DVN Stocktwits community is down by a large amount over the past 24 hours, however, the sentiment in the DVN Twitter community is relatively flat, except for their impressions which are up over 1600%. This increase is nothing to be brushed off and we are about to dive into this topic later in this post.
Lastly, you may have noticed that the DVN Twitter community is able to garner significantly more impressions than the DVN Stocktwits community despite having relatively similar posting volumes. This is due to the fact that there are more large Twitter accounts posting about the DVN stock on Twitter than there are in the DVN Stocktwits forum. We will explore this topic further in the next section.
Here is a count of “whale” accounts that are active on DVN Twitter (over the past 72 hrs):
As you can see, there are a decent amount of large accounts posting about the DVN stock on Twitter. These large accounts help the DVN Twitter community to garner impressions. As previously mentioned, the amount of impressions in the DVN Twitter community is up over 1600%. This is largely due to the fact that one of these large accounts that posted about DVN was CNBC which has 4.8M followers on Twitter. CNBC's re-tweet about the DVN Stock can be found here.
Whether you are trying to stay up-to-date on posting volumes, likes, and/or impressions within a stock's Stocktwits and/or Twitter communities; diving deeper into the “whale” accounts that are driving sentiment in the DVN Stocktwits and/or Twitter communities, or just keeping up with how different stocks are ranking in terms of their social sentiment; there is no better time to get familiar with social sentiment data.