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Devon Energy (DVN) Gains But Lags Market: What You Should Know
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Devon Energy (DVN - Free Report) closed the most recent trading day at $29.76, moving +0.07% from the previous trading session. This change lagged the S&P 500's 0.33% gain on the day.
Heading into today, shares of the oil and gas exploration company had gained 11.6% over the past month, outpacing the Oils-Energy sector's gain of 4.91% and the S&P 500's gain of 1.74% in that time.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be August 3, 2021. The company is expected to report EPS of $0.47, up 361.11% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.3 billion, up 483.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.25 per share and revenue of $9 billion, which would represent changes of +2600% and +86.38%, respectively, from the prior year.
Any recent changes to analyst estimates for DVN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 4.94% higher within the past month. DVN is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that DVN has a Forward P/E ratio of 13.21 right now. Its industry sports an average Forward P/E of 11.15, so we one might conclude that DVN is trading at a premium comparatively.
Also, we should mention that DVN has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.63 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow DVN in the coming trading sessions, be sure to utilize Zacks.com.
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Devon Energy (DVN) Gains But Lags Market: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $29.76, moving +0.07% from the previous trading session. This change lagged the S&P 500's 0.33% gain on the day.
Heading into today, shares of the oil and gas exploration company had gained 11.6% over the past month, outpacing the Oils-Energy sector's gain of 4.91% and the S&P 500's gain of 1.74% in that time.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be August 3, 2021. The company is expected to report EPS of $0.47, up 361.11% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.3 billion, up 483.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.25 per share and revenue of $9 billion, which would represent changes of +2600% and +86.38%, respectively, from the prior year.
Any recent changes to analyst estimates for DVN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 4.94% higher within the past month. DVN is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that DVN has a Forward P/E ratio of 13.21 right now. Its industry sports an average Forward P/E of 11.15, so we one might conclude that DVN is trading at a premium comparatively.
Also, we should mention that DVN has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.63 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow DVN in the coming trading sessions, be sure to utilize Zacks.com.