The valuation is rather high, and if the company isn't growing enough to justify that lofty multiple....
Other energy stocks, even ones that were reaching a new 52-week high such as anadarko pulled back in a similar pattern. Regarding the asking price for those Mideast assets, they are in-line with previous analyst estimates.
No, why are people still thinking that anybody would want to buy Devon? Especially after the XTO debacle. Nobody wants natural gas since it's too easy to find it on your own.
fyi, i think you're one of the more intelligent members on this board. usually you get the idiots that say "63 by next week" or "buffet or exxon mobil will buy a stake in devon" or "keystone pipeline will definitely get approved".
i don't think devon's assets are all that great, they got out of oil and into natural gas at the top of the natural gas market. and a pristine balance sheet isn't bad, to be sure, but it's not exactly desirable either ---- like you mentioned, at the current interest rates, cash isn't king.
WHY would you buy devon as an activist investor? hess, talisman energy have attractive assets.
The buyout speculation has been nonsensical for YEARS due to Devon's depressed stock price. It's not happening.
what's your cost basis if i could please ask? the stock is up huge, still
I think it's fair to say everybody has been frustrated. And it's "companies" =P
not sure why anybody would give me a negative thumbs down, a simple look at the PE reveals the company's lofty valuation. what is the forward-looking PE, 20-25?
jim cramer said that a recent (as recent as today, perhaps) wells fargo report regarding day rates shows that day rates are not as strong as expected? any color?