Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Devon Energy (DVN - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Devon Energy is one of 253 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Devon Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DVN's full-year earnings has moved 20.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DVN has returned about 164.2% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 31.2%. As we can see, Devon Energy is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Diamondback Energy (FANG - Free Report) . The stock is up 119% year-to-date.
In Diamondback Energy's case, the consensus EPS estimate for the current year increased 11.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Devon Energy belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 43 individual companies and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 98.4% this year, meaning that DVN is performing better in terms of year-to-date returns. Diamondback Energy is also part of the same industry.
Investors interested in the Oils-Energy sector may want to keep a close eye on Devon Energy and Diamondback Energy as they attempt to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Devon Energy (DVN - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Devon Energy is one of 253 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Devon Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DVN's full-year earnings has moved 20.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DVN has returned about 164.2% since the start of the calendar year. At the same time, Oils-Energy stocks have gained an average of 31.2%. As we can see, Devon Energy is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Diamondback Energy (FANG - Free Report) . The stock is up 119% year-to-date.
In Diamondback Energy's case, the consensus EPS estimate for the current year increased 11.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Devon Energy belongs to the Oil and Gas - Exploration and Production - United States industry, a group that includes 43 individual companies and currently sits at #16 in the Zacks Industry Rank. On average, stocks in this group have gained 98.4% this year, meaning that DVN is performing better in terms of year-to-date returns. Diamondback Energy is also part of the same industry.
Investors interested in the Oils-Energy sector may want to keep a close eye on Devon Energy and Diamondback Energy as they attempt to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on DVN - FREE
Get the latest research report on FANG - FREE