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Devon Energy (DVN) Dips More Than Broader Markets: What You Should Know
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Devon Energy (DVN - Free Report) closed at $60.14 in the latest trading session, marking a -1.17% move from the prior day. This move lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the oil and gas exploration company had lost 0.62% in the past month. In that same time, the Oils-Energy sector gained 3.44%, while the S&P 500 gained 8.32%.
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. The company is expected to report EPS of $1.77, up 27.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.65 billion, up 8.76% from the year-ago period.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 11.86% lower. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 7.82. This valuation marks a premium compared to its industry's average Forward P/E of 5.88.
Also, we should mention that DVN has a PEG ratio of 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.22 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 245, which puts it in the bottom 3% 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) Dips More Than Broader Markets: What You Should Know
Devon Energy (DVN - Free Report) closed at $60.14 in the latest trading session, marking a -1.17% move from the prior day. This move lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.67%.
Coming into today, shares of the oil and gas exploration company had lost 0.62% in the past month. In that same time, the Oils-Energy sector gained 3.44%, while the S&P 500 gained 8.32%.
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. The company is expected to report EPS of $1.77, up 27.34% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.65 billion, up 8.76% from the year-ago period.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 11.86% lower. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 7.82. This valuation marks a premium compared to its industry's average Forward P/E of 5.88.
Also, we should mention that DVN has a PEG ratio of 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.22 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 245, which puts it in the bottom 3% 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.