Day 28- Bought Devon Energy

Sifting through the rubble, I added Devon Energy (DVN) to the portfolio. “Devon Energy (DVN:NYSE; $55.52; 1,900 shares; 4.02%; Sector: Energy): The company has one of the best liquids growth portfolios in the business. Over the last five years it has achieved production growth at a 7% compound annual rate, and in the next five years it plans to grow oil production by 19% annually. The key here is that production will move to a ratio of more than 50% liquids in 2016, from 37% currently. These shifts, along with the recent international sales, are positive long-term moves that enhance value. We like the strong visibility and continue to prefer this name in the exploration-and-production space. Shares trade at a 28% discount to net asset value and offer strong value at these levels. Our target is $65.” Cramer