•Achieved record production exceeding company guidance
•Delivered 36 percent growth in U.S. oil production driven by Permian Basin
•Announced positive well results in new Woodford Shale oil play
•Increased cash flow 31 percent
•Repatriated $2 billion of foreign cash
Give management a pat on the back for recent quarterly report. However, based on past results, they have a lot to make up for. Devon has fallen way behind their peer companies, and stock price reflects this.
I am rooting for this questionalble bunch in charge to keep up the good results, and not "muck it up'.
This stock has only one way to go $65 by year end. $80 by end of 2014! Look at earning report it took them a long time to get these three shale plays going. Now the $$$ will role in. Watch earning estimates go up in third and forth quarters. Plus Goldman likes them.
Sentiment: Strong Buy