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Devon Energy (DVN) Declines More Than Market: Some Information for Investors
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In the latest trading session, Devon Energy (DVN - Free Report) closed at $48.44, marking a -5.63% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.45%. Elsewhere, the Dow saw a downswing of 1.21%, while the tech-heavy Nasdaq depreciated by 0.01%.
Shares of the oil and gas exploration company have appreciated by 7.32% over the course of the past month, outperforming the Oils-Energy sector's gain of 3.72%, and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. On that day, Devon Energy is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 13.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.26 billion, up 67.52% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.27 per share and revenue of $25.84 billion, which would represent changes of +34.44% and +50.36%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Devon Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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. Within the past 30 days, our consensus EPS projection has moved 5.63% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 9.74. For comparison, its industry has an average Forward P/E of 10.31, which means Devon Energy is trading at a discount to the group.
Also, we should mention that DVN has a PEG ratio of 1.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.83 at the close of the market yesterday.
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 104, finds itself in the top 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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) Declines More Than Market: Some Information for Investors
In the latest trading session, Devon Energy (DVN - Free Report) closed at $48.44, marking a -5.63% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.45%. Elsewhere, the Dow saw a downswing of 1.21%, while the tech-heavy Nasdaq depreciated by 0.01%.
Shares of the oil and gas exploration company have appreciated by 7.32% over the course of the past month, outperforming the Oils-Energy sector's gain of 3.72%, and the S&P 500's loss of 2.43%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. On that day, Devon Energy is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 13.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.26 billion, up 67.52% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.27 per share and revenue of $25.84 billion, which would represent changes of +34.44% and +50.36%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Devon Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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. Within the past 30 days, our consensus EPS projection has moved 5.63% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 9.74. For comparison, its industry has an average Forward P/E of 10.31, which means Devon Energy is trading at a discount to the group.
Also, we should mention that DVN has a PEG ratio of 1.39. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.83 at the close of the market yesterday.
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 104, finds itself in the top 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.