Devon Looks Like a Table-Pounding Buy
We've written about Devon Energy (DVN) over the last year. After declining 20% in 2011, the stock was beaten down another 15% in 2012. Despite or perhaps because of the significant decline over the last two years, we believe Devon is a table-pounding recommendation for 2013.
Very simply, Devon has great North American oil and natural gas assets, has significant earnings power and trades at a big discount to its asset value. Its underperformance in the last few years has left the stock way too cheap and its shareholders extremely frustrated. Importantly, the high-quality management team is also feeling very frustrated. We believe the company is fixing some of its 2012 operating missteps and has a lot of non-operating levers to improve the stock price....416 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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