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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 $53.39, marking a +0.91% move from the previous day. This change outpaced the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq lost 2.19%.
Heading into today, shares of the oil and gas exploration company had gained 2.22% over the past month, outpacing the Oils-Energy sector's loss of 2.04% and lagging the S&P 500's gain of 3.13% in that time.
Investors will be hoping for strength from Devon Energy as it approaches its next earnings release. The company is expected to report EPS of $1.51, down 19.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.12 billion, up 8.17% from the year-ago period.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $6.66 per share and revenue of $17.19 billion. These results would represent year-over-year changes of -19.86% and -10.3%, respectively.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.41% lower within the past month. Devon Energy is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.95. For comparison, its industry has an average Forward P/E of 6.6, which means Devon Energy is trading at a premium to the group.
Meanwhile, DVN's PEG ratio is currently 0.15. 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 0.35 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 232, putting it in the bottom 8% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Devon Energy (DVN - Free Report) closed at $53.39, marking a +0.91% move from the previous day. This change outpaced the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq lost 2.19%.
Heading into today, shares of the oil and gas exploration company had gained 2.22% over the past month, outpacing the Oils-Energy sector's loss of 2.04% and lagging the S&P 500's gain of 3.13% in that time.
Investors will be hoping for strength from Devon Energy as it approaches its next earnings release. The company is expected to report EPS of $1.51, down 19.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.12 billion, up 8.17% from the year-ago period.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $6.66 per share and revenue of $17.19 billion. These results would represent year-over-year changes of -19.86% and -10.3%, respectively.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.41% lower within the past month. Devon Energy is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.95. For comparison, its industry has an average Forward P/E of 6.6, which means Devon Energy is trading at a premium to the group.
Meanwhile, DVN's PEG ratio is currently 0.15. 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 0.35 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 232, putting it in the bottom 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.