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Unveiling Devon Energy (DVN) Q4 Outlook: Wall Street Estimates for Key Metrics

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Analysts on Wall Street project that Devon Energy (DVN - Free Report) will announce quarterly earnings of $1 per share in its forthcoming report, representing a decline of 29.1% year over year. Revenues are projected to reach $4.24 billion, increasing 2.2% from the same quarter last year.

Over the last 30 days, there has been an upward revision of 11.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Given this perspective, it's time to examine the average forecasts of specific Devon Energy metrics that are routinely monitored and predicted by Wall Street analysts.

It is projected by analysts that the 'Revenues- Oil, gas and NGL sales' will reach $2.96 billion. The estimate indicates a change of +8.3% from the prior-year quarter.

Analysts predict that the 'Revenues- Marketing and midstream revenues' will reach $1.22 billion. The estimate suggests a change of +13% year over year.

Analysts' assessment points toward 'Revenues- Oil, gas and NGL derivatives' reaching $74.38 million. The estimate suggests a change of -77% year over year.

Based on the collective assessment of analysts, 'Production - Total oil equivalent per day' should arrive at 821.00 millions of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 662 millions of barrels of oil equivalent.

The average prediction of analysts places 'Average Daily Production - Total Oil' at 386.04 millions of barrels of oil. Compared to the present estimate, the company reported 317 millions of barrels of oil in the same quarter last year.

The consensus estimate for 'Average Daily Production - Total Gas' stands at 1,321.45 millions of cubic feet. Compared to the present estimate, the company reported 1061 millions of cubic feet in the same quarter last year.

The combined assessment of analysts suggests that 'Average Daily Production - Total NGL' will likely reach 214.77 millions of barrels of oil. The estimate compares to the year-ago value of 169 millions of barrels of oil.

Analysts expect 'Production - Oil - Anadarko Basin' to come in at 13.89 millions of barrels of oil per day. Compared to the present estimate, the company reported 13 millions of barrels of oil per day in the same quarter last year.

Analysts forecast 'Production - Oil - Other' to reach 3.48 millions of barrels of oil per day. The estimate compares to the year-ago value of 4 millions of barrels of oil per day.

According to the collective judgment of analysts, 'Production - NGL - Delaware Basin' should come in at 128.26 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 112 millions of barrels of oil per day.

The consensus among analysts is that 'Production - NGL - Powder River Basin' will reach 2.50 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 3 millions of barrels of oil per day.

The collective assessment of analysts points to an estimated 'Production - NGL - Eagle Ford' of 17.47 millions of barrels of oil per day. The estimate compares to the year-ago value of 15 millions of barrels of oil per day.

View all Key Company Metrics for Devon Energy here>>>

Devon Energy shares have witnessed a change of -10.9% in the past month, in contrast to the Zacks S&P 500 composite's +4.9% move. With a Zacks Rank #3 (Hold), DVN is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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