Follow Up on Devon Energy
It was only a couple weeks ago that we posted a great article about Devon Energy. Here is some more positive information in relation to DVN. Looks like one of our favorite picks is starting to gain some attention. Kurt Wulff put together a short article that includes some solid points for Devon Energy.
"…Devon Energy (DVN) offers unlevered appreciation potential of 27% to a McDep Ratio of 1.0, where stock price would equal Net Present Value (NPV) of $112 a share. Meeting with analysts on April 15, Chief Executive John Richels identified risk-adjusted resources of 46 trillion cubic feet (tcfe) and 1.9 billion barrels (bboe) in seven geologic provinces in North America. Believing that those and other resources are worth more than Devon’s stock price, Mr. Richels emphasized the company’s intention to repurchase another $1.9 billion of DVN shares in 2011."
Find additional research here: http://seekingalpha.com/article/269089-devon-energy-rich-resources-low-debt