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Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
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Devon Energy (DVN - Free Report) closed the most recent trading day at $33.09, moving +0.88% from the previous trading session. This change outpaced the S&P 500's 0.15% gain on the day.
Coming into today, shares of the oil and gas exploration company had gained 12.75% in the past month. In that same time, the Oils-Energy sector gained 7.33%, while the S&P 500 lost 0.58%.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be November 2, 2021. In that report, analysts expect DVN to post earnings of $0.86 per share. This would mark year-over-year growth of 2250%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 183.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.77 per share and revenue of $10.47 billion, which would represent changes of +3177.78% and +116.89%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DVN. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.91% higher. DVN is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, DVN is holding a Forward P/E ratio of 11.84. This valuation marks a premium compared to its industry's average Forward P/E of 9.64.
It is also worth noting that DVN currently has a PEG ratio of 0.37. 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 0.41 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 56, putting it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $33.09, moving +0.88% from the previous trading session. This change outpaced the S&P 500's 0.15% gain on the day.
Coming into today, shares of the oil and gas exploration company had gained 12.75% in the past month. In that same time, the Oils-Energy sector gained 7.33%, while the S&P 500 lost 0.58%.
Investors will be hoping for strength from DVN as it approaches its next earnings release, which is expected to be November 2, 2021. In that report, analysts expect DVN to post earnings of $0.86 per share. This would mark year-over-year growth of 2250%. Meanwhile, our latest consensus estimate is calling for revenue of $3.02 billion, up 183.28% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.77 per share and revenue of $10.47 billion, which would represent changes of +3177.78% and +116.89%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DVN. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.91% higher. DVN is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, DVN is holding a Forward P/E ratio of 11.84. This valuation marks a premium compared to its industry's average Forward P/E of 9.64.
It is also worth noting that DVN currently has a PEG ratio of 0.37. 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 0.41 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 56, putting it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.