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Devon Energy (DVN) Registers a Bigger Fall Than the Market: Important Facts to Note
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Devon Energy (DVN - Free Report) closed at $34.77 in the latest trading session, marking a -1.47% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.05%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, added 0.45%.
The oil and gas exploration company's stock has climbed by 4.25% in the past month, exceeding the Oils-Energy sector's gain of 3.82% and the S&P 500's gain of 3.44%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company's upcoming EPS is projected at $0.95, signifying a 13.64% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.17 billion, up 3.7% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.08 per share and a revenue of $17.1 billion, demonstrating changes of -15.35% and +7.29%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.34% fall in the Zacks Consensus EPS estimate. Currently, Devon Energy is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Devon Energy is at present trading with a Forward P/E ratio of 8.65. This valuation marks a discount compared to its industry average Forward P/E of 10.63.
It's also important to note that DVN currently trades at a PEG ratio of 2.03. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.77.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 157, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Registers a Bigger Fall Than the Market: Important Facts to Note
Devon Energy (DVN - Free Report) closed at $34.77 in the latest trading session, marking a -1.47% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.05%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, added 0.45%.
The oil and gas exploration company's stock has climbed by 4.25% in the past month, exceeding the Oils-Energy sector's gain of 3.82% and the S&P 500's gain of 3.44%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company's upcoming EPS is projected at $0.95, signifying a 13.64% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.17 billion, up 3.7% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.08 per share and a revenue of $17.1 billion, demonstrating changes of -15.35% and +7.29%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 1.34% fall in the Zacks Consensus EPS estimate. Currently, Devon Energy is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Devon Energy is at present trading with a Forward P/E ratio of 8.65. This valuation marks a discount compared to its industry average Forward P/E of 10.63.
It's also important to note that DVN currently trades at a PEG ratio of 2.03. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.77.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 157, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.