Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Devon Energy (NYSE: DVN) is trading at unusually high volume Wednesday with 8.1 million shares changing hands. It is currently at 2.3 times its average daily volume and trading down $4.51 (-7.5%) at $56.06 as of 3:47 p.m. ET.
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Devon Energy has a market cap of $24 billion and is part of the basic materials sector and energy industry. Shares are up 13.9% year to date as of the close of trading on Tuesday. Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids. The company has a P/E ratio of 34.9, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Devon Energy as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Devon Energy Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.