- Devon Energy (DVN +1.5%) is added to the Top Picks list at FBR, which believes DVN's defensive position combined with leverage to emerging areas including the Permian, Rockies and SCOOP/STACK, offers more near-term re-rating potential.
- The firm sees several near-term catalysts including more confidence around downspacing and stacked pay potential in the Permian and continued de-risking and well improvement in the Anadarko Basin given an active H2 schedule.
- FBR feels the past few quarters are a strong testament to the success of DVN's strategic re-positioning and transition to becoming a top-tier operator in its five core areas (Briefing.com).