Top Energy Stocks fall With Crude (DVN, CHK, BP, CVX)

Energy stocks turned negative on Friday, after opening into positive territory, pressured by falling crude-oil futures, which slid below $74 and the broader equities market also turned negative.

You can Subscribe to these Free Stock Alerts by visiting:  http://www.PennyStockPickReport.com

Devon Energy Corporation (NYSE:DVN) slid 0.23% to $61.97 after 1.25 million shares of trade. Late Thursday, the company said it has a plan to expend $1.2 billion to develop the Jackfish 3 oil-sands project in Alberta, Canada. Pending regulatory approval, Devon will begin construction late in 2011 with plant start-up projected for 2015.

The stock has a Forward P/E ratio of 10.30. The company has Price/Sales ratio of 3.05 and Price/Book ratio of 1.62. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $62.89 and $65.01 respectively.

Chesapeake Energy Corporation (NYSE:CHK) fell 0.46% to $21.53. Earlier this week, Reuters reported that India’s biggest oil & gas company Reliance Industries Limited is in negotiations with Chesapeake Energy Corporation to buy a stake in Eagle Ford shale gas project. The report further stated that the financial terms are yet be finalized and there could be a joint venture between both the companies to develop the asset.  

The median Wall Street price target on the stock is $32 and the high target is set at $37 with majority of analysts have a Hold rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $21.22 and $22.80 respectively.

Shares of BP plc (ADR) (NYSE:BP) is trading 0.78% lower to $37.97. The company said on Friday that its ruptured Gulf of Mexico well that caused the world's worst marine oil spill will be permanently sealed on Saturday.

You can Subscribe to these Free Stock Alerts by visiting:  http://www.PennyStockPickReport.com

The company has Price/Sales ratio of 0.42 and Price/Book ratio of 1.40. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $37.81 and $44.05 respectively.

Chevron Corporation (NYSE:CVX) dropped 0.72% to $78.48 after 5.68 million shares of trade. So far in the last one year of trading sessions, the stock has jumped over 9%. The stock has a 52-week range of $66.83-$83.41.

The median Wall Street price target on the stock is $92 and the high target is set at $110 with majority of analysts have a Buy rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $77.03 and $75.67 respectively.

About http://www.PennyStockPickReport.com

Penny Stock Pick Report offers stock newsletter on OTC, PINKSHEETS ,OTCBB, AMEX, NASDAQ and NYSE stock exchange. Our subscribers receive daily up to date stock information on hot stocks, most active movers, top gainers, penny stocks and much more. If you wish to feature your organization on our website then you can contact us at the email given below.