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Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
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Devon Energy (DVN - Free Report) closed the most recent trading day at $27.53, moving -1.11% from the previous trading session. This change lagged the S&P 500's daily gain of 0.34%.
Coming into today, shares of the oil and gas exploration company had lost 9.76% in the past month. In that same time, the Oils-Energy sector lost 3.72%, while the S&P 500 gained 2.71%.
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 $0.48, up 366.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.31 billion, up 485.5% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.29 per share and revenue of $9.07 billion, which would represent changes of +2644.44% and +87.87%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DVN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.77% higher within the past month. DVN currently has a Zacks Rank of #3 (Hold).
Investors should also note DVN's current valuation metrics, including its Forward P/E ratio of 12.15. This valuation marks a premium compared to its industry's average Forward P/E of 10.1.
Also, we should mention that DVN has a PEG ratio of 0.39. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.56 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 35, which puts it in the top 14% 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.
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) Stock Sinks As Market Gains: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $27.53, moving -1.11% from the previous trading session. This change lagged the S&P 500's daily gain of 0.34%.
Coming into today, shares of the oil and gas exploration company had lost 9.76% in the past month. In that same time, the Oils-Energy sector lost 3.72%, while the S&P 500 gained 2.71%.
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 $0.48, up 366.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.31 billion, up 485.5% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.29 per share and revenue of $9.07 billion, which would represent changes of +2644.44% and +87.87%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DVN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.77% higher within the past month. DVN currently has a Zacks Rank of #3 (Hold).
Investors should also note DVN's current valuation metrics, including its Forward P/E ratio of 12.15. This valuation marks a premium compared to its industry's average Forward P/E of 10.1.
Also, we should mention that DVN has a PEG ratio of 0.39. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.56 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 35, which puts it in the top 14% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.