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Why Devon Energy (DVN) Could Be Positioned for a Surge
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Devon Energy Corporation (DVN - Free Report) is an oil and natural gas explorer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DVR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Devon Energy could be a solid choice for investors.
Current Quarter Estimates for DVN
In the past 30 days, 3 estimates have gone higher for Devon Energy while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 18 cents a share 30 days ago, to 19 cents per share today, a move of 5.6%.
Current Year Estimates for DVN
Meanwhile, Devon Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 15 cents per share 30 days ago to a loss of 13 cents per share today, an increase of 13.3%.
The stock has also started to move higher lately, adding 10.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why Devon Energy (DVN) Could Be Positioned for a Surge
Devon Energy Corporation (DVN - Free Report) is an oil and natural gas explorer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DVR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Devon Energy could be a solid choice for investors.
Current Quarter Estimates for DVN
In the past 30 days, 3 estimates have gone higher for Devon Energy while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 18 cents a share 30 days ago, to 19 cents per share today, a move of 5.6%.
Current Year Estimates for DVN
Meanwhile, Devon Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 15 cents per share 30 days ago to a loss of 13 cents per share today, an increase of 13.3%.
DEVON ENERGY Price and Consensus
DEVON ENERGY Price and Consensus | DEVON ENERGY Quote
Bottom Line
The stock has also started to move higher lately, adding 10.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>