Intraday Alert: Devon Energy (DVN)

247admin — Thu, 25 Jun 2009 14:46:42 +0000

Devon Energy Corp. (NYSE: DVN) shares are rising on an intraday volume spike at about 10:40 a.m. Eastern, as market chatter circulates that the company could be considered an acquisition target of larger oil players such as Exxon Mobil (NYSE: XOM).

Devon shares have had strong price momentum in recent trading days. The company has proved developed reserves of 1.93 billion barrels of oil equivalent, and is geographically diverse in North America.

But the company trades at a higher multiple of price to cash flow as well as forward price to book value compared to peers including Chesapeake Energy Corp (NYSE: CHK), XTO Energy Inc. (XTO), Apache Corp (NYSE: APA) and Anadarko Petroleum (NYSE: APC), which may lead some market participants to believe that there are less expensive acquisition candidates, in the event that large oil exploration players are seeking growth. — Mike Tarsala.

Buyback Leaders Surging, Anadarko (APC) and Coach (COH)

247admin — Tue, 26 Aug 2008 11:20:52 +0000

Anadarko Petroleum (APC) is indicated higher after the company said that it was going to buy back up to $5 Billion common stock, or 18% of the company, out to August 2011. The company is also increasing its capital spending plan for 2009 and beyond.

Coach Inc. (COH) traded higher after announcing that it was going to buy back up to $1 Billion in common stock after its $1 Billion buyback plan from November 2007 has already been utilized. Shares are indicated up 4% pre-market around $27.50, although this number may be higher or lower by the open as we have more than two hours before the market opens.

JON OGG

August 26, 2008

Volume Spike Investor » APC

Intraday Alert: Devon Energy (DVN)

Buyback Leaders Surging, Anadarko (APC) and Coach (COH)