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$65.80 -1.64 (-2.43%)
1/8/2009 1:33 PM

Devon Energy Corp (DVN)

CAPS Rating:
*****

The Company including its subsidiaries, is engaged primarily in oil and gas exploration, development and production, the transportation of oil, gas and NGLs and the processing of natural gas.

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Avatar Assetmgrsc (56.81) Submitted: 8/13/07 8:17 AM : Outperform Start Price: $76.31 DVN Score: 25.10

Devon is a sound, if average oil and gas explorer with one outstanding exception. It has a 25% stake in what could be the largest under sea oil field to be found in the U. S. Gulf in the last 40 years. Preliminary estimates are that this field could increase known US oil reserves by as much as 25%. For a company the size of DVN, such a stake is huge. CVN is one partner and I think a likely buyer once the size of the field is better known. I don't see much downside. Take a half position now and buy on any dips.

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