Nat gas prices are still fairly depressed, but Devon has a good balance sheet and extensive North American holdings of oil and gas. Devon is ramping oil and the PE is misleading because of the non-cash write-offs due to lower nat gas average prices. If you're patient, you will be rewarded with Devon and Apache, but like you said, its painful to accumulate on weakness. I'm still on the light side but I am starting to scale up this holding. A cold snap this winter might do the trick for a quick bounce!
Agreed. Either pe in low 20s or yield rises to mid 2%.. I don't see any significant supports... Don't get me wrong... I've been tracking this name and wanting to buy just based on price levels... Unfortunately there are cheaper stuffs out there. Hey but if u own it, write some calls against it.