NEW YORK (TheStreet) -- General Electric (GE) shares are climbing, up 0.8% to $26.64, on Monday after announcing a new technology partnership with Devon Energy (DVN).
The agreement is meant to enhance the performance and increase to profitability of unconventional oil and gas projects by improving the artificial lift systems that increase the flow of liquids from production wells.
The announcement was made at a groundbreaking ceremony for the company's planned global research center in Oklahoma City. The oil and gas innovation hub will be housed in a $125 million facility set to open next year and is part of GE's plan to triple R&D investments in the oil and gas industry over the next three years.
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TheStreet Ratings team rates GENERAL ELECTRIC CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."