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Devon Energy (DVN) Stock Moves -0.16%: What You Should Know
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $63.49, marking a -0.16% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the oil and gas exploration company had gained 7.31% over the past month. This has outpaced the Oils-Energy sector's gain of 6.66% and the S&P 500's gain of 4.01% in that time.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. This is expected to be February 14, 2023. In that report, analysts expect Devon Energy to post earnings of $1.86 per share. This would mark year-over-year growth of 33.81%. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, up 12.95% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Devon Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.42% lower. Devon Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 7.62. This represents a premium compared to its industry's average Forward P/E of 5.23.
Meanwhile, DVN's PEG ratio is currently 0.15. 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 0.19 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 229, which puts it in the bottom 10% 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) Stock Moves -0.16%: What You Should Know
In the latest trading session, Devon Energy (DVN - Free Report) closed at $63.49, marking a -0.16% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the oil and gas exploration company had gained 7.31% over the past month. This has outpaced the Oils-Energy sector's gain of 6.66% and the S&P 500's gain of 4.01% in that time.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. This is expected to be February 14, 2023. In that report, analysts expect Devon Energy to post earnings of $1.86 per share. This would mark year-over-year growth of 33.81%. Meanwhile, our latest consensus estimate is calling for revenue of $4.83 billion, up 12.95% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Devon Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.42% lower. Devon Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 7.62. This represents a premium compared to its industry's average Forward P/E of 5.23.
Meanwhile, DVN's PEG ratio is currently 0.15. 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 0.19 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 229, which puts it in the bottom 10% 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.