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Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $26.63, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.42% gain on the day.
Coming into today, shares of the oil and gas exploration company had lost 9.35% in the past month. In that same time, the Oils-Energy sector lost 5.68%, while the S&P 500 gained 2.64%.
DVN will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021. On that day, DVN is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 394.44%. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, up 504.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.64 per share and revenue of $9.57 billion, which would represent changes of +3033.33% and +98.28%, 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. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 17.24% higher within the past month. DVN currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, DVN is currently trading at a Forward P/E ratio of 10.03. Its industry sports an average Forward P/E of 9.05, so we one might conclude that DVN is trading at a premium comparatively.
It is also worth noting that DVN currently has a PEG ratio of 0.32. 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 0.47 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 16, putting it in the top 7% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Devon Energy (DVN - Free Report) closed at $26.63, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.42% gain on the day.
Coming into today, shares of the oil and gas exploration company had lost 9.35% in the past month. In that same time, the Oils-Energy sector lost 5.68%, while the S&P 500 gained 2.64%.
DVN will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021. On that day, DVN is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 394.44%. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, up 504.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.64 per share and revenue of $9.57 billion, which would represent changes of +3033.33% and +98.28%, 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. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 17.24% higher within the past month. DVN currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, DVN is currently trading at a Forward P/E ratio of 10.03. Its industry sports an average Forward P/E of 9.05, so we one might conclude that DVN is trading at a premium comparatively.
It is also worth noting that DVN currently has a PEG ratio of 0.32. 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 0.47 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 16, putting it in the top 7% 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.