Devon (DVN) is on my radar but ...

 Market Talk

I've posted my sentiment on the market .  Anybody interested can read my last few posts. So call me a malcontent, I don't care.  This is a snip-it of my sentiment.

The market is like a fickle two- headed beast.  Anybody that keeps up with world events and our adversaries knows how dangerous the global situation has become both to the economy and peace. It feels like the world in on the brink of war exacerbated by Russian aggression to the Ukraine. China and their communist party continue building out hyper-sonic missiles and have been acting very friendly to Russia against the US. Meanwhile, Taiwan wants to live in peace and be left alone.  But alas, China acts aggressive to an independent notion in Taiwan.

The inflation vs recession seesaw keeps teetering back n' forth with the Federal reserve as the playground monitor. The market is in a trading mode. But it has the feel of biding time for the next shoe to drop.

With the above preamble the following is a peasant's view of some stocks that I am watching for possible gain.

Stock Talk

Sometimes to get the real feel of a sector, it makes a difference if you put some skin in the game.  I had previously traded some shares of Devon Energy (DVN) in the 70's for a small gain.  I posted that what good is a 10 % dividend if the stock drops below that much. Well, good ol' Spider Jones here was correct on that call. The DVN stock has dropped to the 48 to 52 range all the way down from the 70's where I dumped it!  That is a big fall and I am glad I missed it.

Now what is in store for DVN now stock watchers ask plaintively.  To answer this question requires a crystal ball into the future price of oil and natural gas.  Here is a snip-it from Devon's website.

"The company's portfolio of oil and gas properties provides stable, environmentally responsible production and a platform for future growth. Devon's fourth quarter 2021 daily production was approximately 300,000 barrels of oil, more than 150,000 barrels of natural gas liquids and about 940 million cubic feet of natural gas."

Well, for today my crystal ball is a little cloudy.  I will say a look at the chart is talking to me that if a looming recession takes hold DVN stock could easily fade to the 30's.  But on the other hand if demand continues and oil and nat gas prices remain stable and move higher, DVN could see the $60 range.  In short, I don't know and doubt if anybody actually knows for sure. DVN is on my radar, that's all though.

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ALL in my humble opinion, scroll down and read more.

This site does NOT make Buy / Sell recommendations.
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