Devon Energy (DVN)
Posted: Thu Jun 05, 2014 1:37 pm
I think DVN has a shot at $100/share by year-end. - Dan
NEW YORK (TheStreet) -- Unlike some of its peers, Devon Energy (DVN_) has been slow to shift from natural gas to oil, but it is quickly catching up.
The company is selling its noncore assets and is using the proceeds to fuel its growth in liquid fuels. Despite the asset sales, the company is eyeing double-digit growth in its oil production in the coming years, which will drive margin expansion and cash flow growth.
By the end of this year, Devon has forecast that its production will be 40% oil and 20% natural gas liquids, a significant shift from a few years ago when 70% of its production was natural gas.
Full article: http://www.thestreet.com/story/12734340 ... _ven=YAHOO
NEW YORK (TheStreet) -- Unlike some of its peers, Devon Energy (DVN_) has been slow to shift from natural gas to oil, but it is quickly catching up.
The company is selling its noncore assets and is using the proceeds to fuel its growth in liquid fuels. Despite the asset sales, the company is eyeing double-digit growth in its oil production in the coming years, which will drive margin expansion and cash flow growth.
By the end of this year, Devon has forecast that its production will be 40% oil and 20% natural gas liquids, a significant shift from a few years ago when 70% of its production was natural gas.
Full article: http://www.thestreet.com/story/12734340 ... _ven=YAHOO