We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Devon Energy (DVN) Stock Moves -1.39%: What You Should Know
Read MoreHide Full Article
Devon Energy (DVN - Free Report) closed the most recent trading day at $46.93, moving -1.39% from the previous trading session. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.45%.
The stock of oil and gas exploration company has fallen by 1.33% in the past month, lagging the Oils-Energy sector's loss of 0.41% and the S&P 500's gain of 1.27%.
The investment community will be paying close attention to the earnings performance 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%. Simultaneously, our latest consensus estimate expects the revenue to be $7.26 billion, showing a 67.52% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.27 per share and a revenue of $25.84 billion, indicating changes of +34.44% and +50.36%, respectively, from the former year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.43% increase. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 9.18, which means Devon Energy is trading at a discount to the group.
It is also worth noting that DVN currently has a PEG ratio of 1.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.77 based on yesterday's closing prices.
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 95, finds itself in the top 39% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Devon Energy (DVN) Stock Moves -1.39%: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $46.93, moving -1.39% from the previous trading session. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.45%.
The stock of oil and gas exploration company has fallen by 1.33% in the past month, lagging the Oils-Energy sector's loss of 0.41% and the S&P 500's gain of 1.27%.
The investment community will be paying close attention to the earnings performance 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%. Simultaneously, our latest consensus estimate expects the revenue to be $7.26 billion, showing a 67.52% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.27 per share and a revenue of $25.84 billion, indicating changes of +34.44% and +50.36%, respectively, from the former year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.43% increase. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 9.03. For comparison, its industry has an average Forward P/E of 9.18, which means Devon Energy is trading at a discount to the group.
It is also worth noting that DVN currently has a PEG ratio of 1.29. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.77 based on yesterday's closing prices.
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 95, finds itself in the top 39% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.