In this video, our Equity Research Analyst Dushan Ratkovic talks about this weeks pick: Devon Energy.
So last weeks pick, WFC, hit our exit target of 5% on Thursday, and finished the week up 1.71%. The S&P 500 finishing the week down 1.52%, so we beat the market last week. That is really really good guys. If your stock goes up when the overall market falls, that’s a sign you’re doing something right.
Devon Energy Corp, an oil and gas company headquartered in the U.S., who is also reporting earnings tomorrow after close. Last quarter, DVN reported stellar earnings when they beat expectations by 17%. We expect the company to release strong earnings again this quarter, especially considering the price of oil has risen 16% to US$94 per barrel since their Q3 earnings.
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Happy Investing! FRC Team