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Devon Energy (DVN) Ascends While Market Falls: Some Facts to Note
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Devon Energy (DVN - Free Report) ended the recent trading session at $50.02, demonstrating a +2.12% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.59%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, lost 0.65%.
The stock of oil and gas exploration company has risen by 9.18% in the past month, leading the Oils-Energy sector's gain of 9.15% and the S&P 500's loss of 1.37%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. The company is expected to report EPS of $1.2, up 15.38% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $6.91 billion, indicating a 59.62% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.24 per share and a revenue of $24.69 billion, signifying shifts of +33.67% and +43.64%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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 5.74% rise in the Zacks Consensus EPS estimate. Devon Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 9.35. This valuation marks a discount compared to its industry average Forward P/E of 9.81.
We can additionally observe that DVN currently boasts a PEG ratio of 1.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.79.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Devon Energy (DVN) Ascends While Market Falls: Some Facts to Note
Devon Energy (DVN - Free Report) ended the recent trading session at $50.02, demonstrating a +2.12% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.59%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, lost 0.65%.
The stock of oil and gas exploration company has risen by 9.18% in the past month, leading the Oils-Energy sector's gain of 9.15% and the S&P 500's loss of 1.37%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. The company is expected to report EPS of $1.2, up 15.38% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $6.91 billion, indicating a 59.62% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.24 per share and a revenue of $24.69 billion, signifying shifts of +33.67% and +43.64%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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 5.74% rise in the Zacks Consensus EPS estimate. Devon Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 9.35. This valuation marks a discount compared to its industry average Forward P/E of 9.81.
We can additionally observe that DVN currently boasts a PEG ratio of 1.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.79.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 101, putting it in the top 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.