Devon Energy (DVN)

[dan_s]

Devon Energy to get nearly $1 billion from asset sales

Read: http://finance.yahoo.com/news/devon-ene ... 38774.html

If Devon is able to close non-core asset sale near $3 Billion (their goal), the balance sheet will be in great shape and my valuation will go way up.

DVN and NFX are my Top Picks for the STACK oil play in Oklahoma.

[dan_s]

Devon: On the Way to $3 Billion Goal with $1 Billion Upstream Divestiture

http://www.oilandgas360.com/devon-way-3 ... dium=email

[dan_s]

I am increasing my valuation of Devon Energy (DVN) by $8.50/share to $52.00. I believe a higher multiple of cash flow from operations is justified based on increasing commodity prices and increasing likelihood that the company will complete their planned asset sales within a few months. I believe DVN has significant upside from the current share price. It has an outstanding leasehold position in the STACK play with an estimated 5,000 low-risk high-potential horizontal drilling locations.

Devon is one the Elite Eight in our Sweet 16.

[dan_s]

An updated forecast model for Devon will be posted to the EPG website this evening. Note that Devon is now on course to crush the current First Call EPS forecasts for Q2 and Q3.