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Devon Energy (DVN) Suffers a Larger Drop Than the General Market: Key Insights
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Devon Energy (DVN - Free Report) closed the most recent trading day at $51.52, moving -1.06% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.4%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw a decrease of 0.73%.
Shares of the oil and gas exploration company have appreciated by 19.62% over the course of the past month, outperforming the Oils-Energy sector's gain of 10.64%, and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. The company's upcoming EPS is projected at $0.94, signifying a 22.31% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.93 billion, down 11.82% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.16 per share and a revenue of $16.1 billion, indicating changes of +6.12% and -6.34%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 29.39% higher. Right now, Devon Energy possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 12.52. This denotes a discount relative to the industry average Forward P/E of 14.6.
We can also see that DVN currently has a PEG ratio of 1.12. 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. DVN's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Devon Energy (DVN) Suffers a Larger Drop Than the General Market: Key Insights
Devon Energy (DVN - Free Report) closed the most recent trading day at $51.52, moving -1.06% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.4%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw a decrease of 0.73%.
Shares of the oil and gas exploration company have appreciated by 19.62% over the course of the past month, outperforming the Oils-Energy sector's gain of 10.64%, and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. The company's upcoming EPS is projected at $0.94, signifying a 22.31% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.93 billion, down 11.82% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.16 per share and a revenue of $16.1 billion, indicating changes of +6.12% and -6.34%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 29.39% higher. Right now, Devon Energy possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 12.52. This denotes a discount relative to the industry average Forward P/E of 14.6.
We can also see that DVN currently has a PEG ratio of 1.12. 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. DVN's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.