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Devon Energy (DVN) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $42.74, marking a -1.5% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.43%.
Prior to today's trading, shares of the oil and gas exploration company had lost 3.88% was narrower than the Oils-Energy sector's loss of 7.58% and lagged the S&P 500's loss of 1.34%.
The upcoming earnings release of Devon Energy will be of great interest to investors. The company's upcoming EPS is projected at $1.29, signifying a 53.57% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 50.08% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4.97 per share and a revenue of $24.72 billion, demonstrating changes of +26.79% and +43.84%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 18.58% higher. At present, Devon Energy boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Devon Energy is currently exchanging hands at a Forward P/E ratio of 8.73. This expresses a discount compared to the average Forward P/E of 9.43 of its industry.
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 107, which puts it in the top 44% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Devon Energy (DVN) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Devon Energy (DVN - Free Report) closed at $42.74, marking a -1.5% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.43%.
Prior to today's trading, shares of the oil and gas exploration company had lost 3.88% was narrower than the Oils-Energy sector's loss of 7.58% and lagged the S&P 500's loss of 1.34%.
The upcoming earnings release of Devon Energy will be of great interest to investors. The company's upcoming EPS is projected at $1.29, signifying a 53.57% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.43 billion, up 50.08% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $4.97 per share and a revenue of $24.72 billion, demonstrating changes of +26.79% and +43.84%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 18.58% higher. At present, Devon Energy boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Devon Energy is currently exchanging hands at a Forward P/E ratio of 8.73. This expresses a discount compared to the average Forward P/E of 9.43 of its industry.
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 107, which puts it in the top 44% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.