Devon Energy | DVN | Long at $48
Devon Energy 
DVN recently expanded their share-repurchase authorization by 67% to $5 billion. Congressional House committee member Kevin Hern has also been scooping a pretty sizeable number of shares lately. On top of the 4%+ dividend and P/E of around 9x, DVN is in a personal buy zone at $48.00. If it continues to rise, I anticipate some resistance around $56 before breaking through.
Target #1 = $56.00
Target #2 = $65.00
Target #3 = $75.00
DVN recently expanded their share-repurchase authorization by 67% to $5 billion. Congressional House committee member Kevin Hern has also been scooping a pretty sizeable number of shares lately. On top of the 4%+ dividend and P/E of around 9x, DVN is in a personal buy zone at $48.00. If it continues to rise, I anticipate some resistance around $56 before breaking through.Target #1 = $56.00
Target #2 = $65.00
Target #3 = $75.00
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