We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why the Market Dipped But Devon Energy (DVN) Gained Today
Read MoreHide Full Article
Devon Energy (DVN - Free Report) closed the most recent trading day at $34.47, moving +2.99% from the previous trading session. This change outpaced the S&P 500's 0.27% loss on the day.
The oil and gas exploration company's stock has dropped by 2.39% in the past month, falling short of the Oils-Energy sector's gain of 4.61% and the S&P 500's gain of 6.9%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. It is anticipated that the company will report an EPS of $0.84, marking a 40.43% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.02 billion, reflecting a 2.66% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.94 per share and revenue of $16.68 billion. These totals would mark changes of -18.26% and +4.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 8.09% decrease. As of now, Devon Energy holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 8.5. This represents a discount compared to its industry average Forward P/E of 10.86.
We can also see that DVN currently has a PEG ratio of 2.48. 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. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 2.48.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why the Market Dipped But Devon Energy (DVN) Gained Today
Devon Energy (DVN - Free Report) closed the most recent trading day at $34.47, moving +2.99% from the previous trading session. This change outpaced the S&P 500's 0.27% loss on the day.
The oil and gas exploration company's stock has dropped by 2.39% in the past month, falling short of the Oils-Energy sector's gain of 4.61% and the S&P 500's gain of 6.9%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. It is anticipated that the company will report an EPS of $0.84, marking a 40.43% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.02 billion, reflecting a 2.66% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.94 per share and revenue of $16.68 billion. These totals would mark changes of -18.26% and +4.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 8.09% decrease. As of now, Devon Energy holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 8.5. This represents a discount compared to its industry average Forward P/E of 10.86.
We can also see that DVN currently has a PEG ratio of 2.48. 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. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 2.48.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.