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Devon Energy (DVN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $29.06, marking a -1.82% move from the previous day. This move lagged the S&P 500's daily loss of 0.54%.
Coming into today, shares of the oil and gas exploration company had gained 12.81% in the past month. In that same time, the Oils-Energy sector gained 5.44%, while the S&P 500 gained 1.91%.
Investors will be hoping for strength from DVN as it approaches its next earnings release. On that day, DVN is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 361.11%. Meanwhile, our latest consensus estimate is calling for revenue of $2.3 billion, up 483.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $8.94 billion, which would represent changes of +2511.11% and +85.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DVN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.16% higher. DVN currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, DVN is holding a Forward P/E ratio of 13.66. Its industry sports an average Forward P/E of 11.8, so we one might conclude that DVN is trading at a premium comparatively.
We can also see that DVN currently has a PEG ratio of 0.74. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.74 at yesterday's closing price.
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 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
In the latest trading session, Devon Energy (DVN - Free Report) closed at $29.06, marking a -1.82% move from the previous day. This move lagged the S&P 500's daily loss of 0.54%.
Coming into today, shares of the oil and gas exploration company had gained 12.81% in the past month. In that same time, the Oils-Energy sector gained 5.44%, while the S&P 500 gained 1.91%.
Investors will be hoping for strength from DVN as it approaches its next earnings release. On that day, DVN is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 361.11%. Meanwhile, our latest consensus estimate is calling for revenue of $2.3 billion, up 483.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $8.94 billion, which would represent changes of +2511.11% and +85.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DVN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.16% higher. DVN currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, DVN is holding a Forward P/E ratio of 13.66. Its industry sports an average Forward P/E of 11.8, so we one might conclude that DVN is trading at a premium comparatively.
We can also see that DVN currently has a PEG ratio of 0.74. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.74 at yesterday's closing price.
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 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.