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Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
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Devon Energy (DVN - Free Report) closed the most recent trading day at $63.13, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.7% gain on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Coming into today, shares of the oil and gas exploration company had gained 1.83% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Devon Energy will be looking to display strength as it nears its next earnings release. On that day, Devon Energy is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 43.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.83 billion, up 12.95% from the year-ago period.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.73% lower. Devon Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.42. For comparison, its industry has an average Forward P/E of 4.79, which means Devon Energy is trading at a premium to the group.
It is also worth noting that DVN currently has a PEG ratio of 0.14. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.18 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $63.13, moving +1.5% from the previous trading session. This change outpaced the S&P 500's 0.7% gain on the day. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 7.5%.
Coming into today, shares of the oil and gas exploration company had gained 1.83% in the past month. In that same time, the Oils-Energy sector gained 3.67%, while the S&P 500 lost 0.94%.
Devon Energy will be looking to display strength as it nears its next earnings release. On that day, Devon Energy is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 43.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.83 billion, up 12.95% from the year-ago period.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.73% lower. Devon Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.42. For comparison, its industry has an average Forward P/E of 4.79, which means Devon Energy is trading at a premium to the group.
It is also worth noting that DVN currently has a PEG ratio of 0.14. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.18 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.