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Given oil's recent run-up, at times it appears that all oil/natural gas plays have been bid-up, but Devon Energy (NYSE: DVN) hasn't and it's worth a review.

Devon's shares were rudely treated by the Street from mid-2008 to early-2009, following the collapse in oil prices. Some of it was justified, due to the large, likely decline in FY 2009 revenue stemming from crude's price collapse. But valuing DVN with a p/e of 6 or 7 is a tad low, given the company's assets, hence the Buy rating that has been generated here.

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Devon Energy: Well-positioned for higher oil prices originally appeared on BloggingStocks on Wed, 27 May 2009 18:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Barnett ShaleDevon EnergyDVNLower Tertiary Trendnatural gas productionoil pricesoil productionWed, 27 May 2009 18:20:00 EST