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Devon Energy (DVN) Gains As Market Dips: What You Should Know
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $22.03, marking a +0.69% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.53%.
Coming into today, shares of the oil and gas exploration company had lost 2.15% in the past month. In that same time, the Oils-Energy sector lost 3.76%, while the S&P 500 gained 5.72%.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be May 4, 2021. In that report, analysts expect DVN to post earnings of $0.34 per share. This would mark year-over-year growth of 161.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.1 billion, up 0.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.94 per share and revenue of $9.21 billion. These totals would mark changes of +2255.56% and +90.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DVN. 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.
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, 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 12.92% higher. DVN is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that DVN has a Forward P/E ratio of 11.27 right now. Its industry sports an average Forward P/E of 9.92, so we one might conclude that DVN is trading at a premium comparatively.
Investors should also note that DVN has a PEG ratio of 6.19 right now. 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. DVN's industry had an average PEG ratio of 0.64 as of yesterday's close.
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 45, which puts it in the top 18% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Devon Energy (DVN) Gains As Market Dips: What You Should Know
In the latest trading session, Devon Energy (DVN - Free Report) closed at $22.03, marking a +0.69% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.53%.
Coming into today, shares of the oil and gas exploration company had lost 2.15% in the past month. In that same time, the Oils-Energy sector lost 3.76%, while the S&P 500 gained 5.72%.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be May 4, 2021. In that report, analysts expect DVN to post earnings of $0.34 per share. This would mark year-over-year growth of 161.54%. Meanwhile, our latest consensus estimate is calling for revenue of $2.1 billion, up 0.78% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.94 per share and revenue of $9.21 billion. These totals would mark changes of +2255.56% and +90.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DVN. 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.
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, 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 12.92% higher. DVN is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that DVN has a Forward P/E ratio of 11.27 right now. Its industry sports an average Forward P/E of 9.92, so we one might conclude that DVN is trading at a premium comparatively.
Investors should also note that DVN has a PEG ratio of 6.19 right now. 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. DVN's industry had an average PEG ratio of 0.64 as of yesterday's close.
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 45, which puts it in the top 18% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.