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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 $42.05, moving -0.57% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the oil and gas exploration company had lost 6.21% over the past month. This has lagged the Oils-Energy sector's loss of 0.1% and the S&P 500's gain of 0.39% in that time.
Devon Energy will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.71 billion, up 189.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $11.75 billion. These totals would mark changes of +3888.89% and +143.38%, respectively, from last year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.23% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 12.4. For comparison, its industry has an average Forward P/E of 8.89, which means Devon Energy is trading at a premium to the group.
Also, we should mention that DVN has a PEG ratio of 0.3. 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 0.37 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 116, putting it in the top 46% 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 $42.05, moving -0.57% from the previous trading session. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the oil and gas exploration company had lost 6.21% over the past month. This has lagged the Oils-Energy sector's loss of 0.1% and the S&P 500's gain of 0.39% in that time.
Devon Energy will be looking to display strength as it nears its next earnings release. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.71 billion, up 189.52% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.41 per share and revenue of $11.75 billion. These totals would mark changes of +3888.89% and +143.38%, respectively, from last year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.23% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 12.4. For comparison, its industry has an average Forward P/E of 8.89, which means Devon Energy is trading at a premium to the group.
Also, we should mention that DVN has a PEG ratio of 0.3. 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 0.37 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 116, putting it in the top 46% 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.