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Occidental Petroleum Corporation Message Board

saving_to_retire 1 post  |  Last Activity: Oct 5, 2014 1:22 PM Member since: Feb 5, 2006
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    DVN is very undervalued right now.

    by mtay515 Oct 2, 2014 9:33 AM
    saving_to_retire saving_to_retire Oct 5, 2014 1:22 PM Flag

    The trend of a dropping stock (DVN) in a dropping sector (oil) has a life of its own. Ignore and buy the stock. Credit Suisse and Merrill Lynch are practically pounding the table to buy this. (That's strictly my read on their research notes.) Credit Suisse says DVN has a CXO inside of it due to Delaware basin in the Permian. Here's what they said: "The key part of our favorable investment thesis on DVN hinges in our non-consensus view that there is a Concho Resources (CXO) lurking within DVN. CXO has been one of the industry leaders in value creation and sports an EV of $18 billion. DVN has a similar acreage footprint to CXO, has grown at comparable levels, and exhibited slighter better capital efficiency. DVN's horizontal well performance has lagged CXO, but DVN has remapped its geological understanding of the play and recent performance has
    improved markedly."
    Draw your own conclusions. But at this price you can't go wrong. I bet it has been shorted to death and if the selling breaks, it will make a decent move up. It's a Warren Buffet kind of stock if you have a longer horizon.
    Best wishes to all long holders of DVN.

    Sentiment: Strong Buy

88.36+1.92(+2.22%)Oct 17 4:02 PMEDT

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