27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
BMO Capital Markets analysts rated Devon Energy Corp (NYSE: DVN) at Outperform. The analysts increased their price target to $40 from $35.
The brokerage said, "We view its North American asset base as being top-tier among large-cap E&Ps with core positions in the STACK, Delaware Basin, Eagle Ford, and heavy oil development. Balance sheet healing, cost structure right-sizing, efficiency gains, and well productivity improvements position Devon well for the eventual upturn."
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The analysts updated their estimations for Devon Energy after the last week's disclosure of $1 billion monetization of non-core upstream properties. They believe the company is on target to achieving its $2-$3 billion monetization target since it has already achieved $1.3 billion.
The energy firm is in the process of marketing its non-core oil assets in the Midland Basin, as well as the Access pipeline in Canada. The Midland Basin included 25 MBoe/d and 15,000 net acres in Martin Country that the analysts estimate could be worth about $700-$900 million in PDP, as well as $300-$400 million in underdeveloped acreage.
BMO Capital believes the valuation of Access was dependent on agreed-upon tariffs and contract terms. However, they think ~$800 million is reasonable, and would put the company above the high end of its targeted monetization range. These deleveraging transactions and higher commodity prices should help put Devon on a path to stemming sequential production declines in 2017 and resuming growth in 2018.
The stock traded 3.47 percent higher on Monday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.