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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 $47.32, marking a -0.88% move from the previous day. This change lagged the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Prior to today's trading, shares of the oil and gas exploration company had lost 0.69% over the past month. This has lagged the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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 $1.39, down 46.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.99 billion, down 29.07% from the year-ago period.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $6.14 per share and revenue of $16.11 billion. These results would represent year-over-year changes of -26.11% and -15.97%, respectively.
Investors might also notice recent changes to analyst estimates for Devon Energy. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.89% lower. Devon Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 7.77. Its industry sports an average Forward P/E of 7.13, so we one might conclude that Devon Energy is trading at a premium comparatively.
Meanwhile, DVN's PEG ratio is currently 0.15. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 based on yesterday's closing prices.
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 219, putting it in the bottom 14% 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 $47.32, marking a -0.88% move from the previous day. This change lagged the S&P 500's 1.15% gain on the day. Meanwhile, the Dow gained 0.63%, and the Nasdaq, a tech-heavy index, added 7.23%.
Prior to today's trading, shares of the oil and gas exploration company had lost 0.69% over the past month. This has lagged the Oils-Energy sector's gain of 2.12% and the S&P 500's gain of 3.08% 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 $1.39, down 46.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.99 billion, down 29.07% from the year-ago period.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $6.14 per share and revenue of $16.11 billion. These results would represent year-over-year changes of -26.11% and -15.97%, respectively.
Investors might also notice recent changes to analyst estimates for Devon Energy. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.89% lower. Devon Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 7.77. Its industry sports an average Forward P/E of 7.13, so we one might conclude that Devon Energy is trading at a premium comparatively.
Meanwhile, DVN's PEG ratio is currently 0.15. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 based on yesterday's closing prices.
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 219, putting it in the bottom 14% 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.