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Devon Energy (DVN) Stock Moves 0.29%: What You Should Know
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The most recent trading session ended with Devon Energy (DVN - Free Report) standing at $41.30, reflecting a +0.29% shift from the previouse trading day's closing. This move traded in line with S&P 500. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.43%.
Coming into today, shares of the oil and gas exploration company had lost 10.11% in the past month. In that same time, the Oils-Energy sector lost 5.56%, while the S&P 500 gained 2.08%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is slated to reveal its earnings on February 27, 2024. The company is predicted to post an EPS of $1.40, indicating a 15.66% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.88 billion, down 9.77% from the year-ago period.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.3% lower within the past month. Devon Energy presently features a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 7.12 right now. This indicates a discount in contrast to its industry's Forward P/E of 7.45.
It is also worth noting that DVN currently has a PEG ratio of 0.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.6 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 251, which puts it in the bottom 1% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Devon Energy (DVN) Stock Moves 0.29%: What You Should Know
The most recent trading session ended with Devon Energy (DVN - Free Report) standing at $41.30, reflecting a +0.29% shift from the previouse trading day's closing. This move traded in line with S&P 500. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.43%.
Coming into today, shares of the oil and gas exploration company had lost 10.11% in the past month. In that same time, the Oils-Energy sector lost 5.56%, while the S&P 500 gained 2.08%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is slated to reveal its earnings on February 27, 2024. The company is predicted to post an EPS of $1.40, indicating a 15.66% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.88 billion, down 9.77% from the year-ago period.
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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.3% lower within the past month. Devon Energy presently features a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 7.12 right now. This indicates a discount in contrast to its industry's Forward P/E of 7.45.
It is also worth noting that DVN currently has a PEG ratio of 0.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.6 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 251, which puts it in the bottom 1% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.