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Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $44.20, marking a -0.67% move from the previous day. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the oil and gas exploration company had gained 5.8% in the past month. In that same time, the Oils-Energy sector gained 2.6%, while the S&P 500 gained 4.32%.
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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.41 per share and revenue of $11.75 billion, which would represent changes of +3888.89% and +143.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Devon Energy. 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.
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 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 a Zacks Rank #3 (Hold).
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 13.05. For comparison, its industry has an average Forward P/E of 9.03, which means Devon Energy is trading at a premium to the group.
Meanwhile, DVN's PEG ratio is currently 0.32. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.38 based on yesterday's closing prices.
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 157, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Devon Energy (DVN - Free Report) closed at $44.20, marking a -0.67% move from the previous day. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the oil and gas exploration company had gained 5.8% in the past month. In that same time, the Oils-Energy sector gained 2.6%, while the S&P 500 gained 4.32%.
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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.41 per share and revenue of $11.75 billion, which would represent changes of +3888.89% and +143.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Devon Energy. 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.
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 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 a Zacks Rank #3 (Hold).
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 13.05. For comparison, its industry has an average Forward P/E of 9.03, which means Devon Energy is trading at a premium to the group.
Meanwhile, DVN's PEG ratio is currently 0.32. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.38 based on yesterday's closing prices.
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 157, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.