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Devon Energy (DVN) Declines More Than Market: Some Information for Investors
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Devon Energy (DVN - Free Report) ended the recent trading session at $46.04, demonstrating a -1.2% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
The oil and gas exploration company's shares have seen a decrease of 4.99% over the last month, not keeping up with the Oils-Energy sector's loss of 0.62% and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. In that report, analysts expect Devon Energy to post earnings of $1.18 per share. This would mark year-over-year growth of 13.46%. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 67.52% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $5.27 per share and a revenue of $25.84 billion, demonstrating changes of +34.44% and +50.36%, respectively, from the preceding year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.43% upward. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 8.84. This represents a discount compared to its industry average Forward P/E of 8.94.
Also, we should mention that DVN has a PEG ratio of 1.26. 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. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.73.
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 gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Devon Energy (DVN) Declines More Than Market: Some Information for Investors
Devon Energy (DVN - Free Report) ended the recent trading session at $46.04, demonstrating a -1.2% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
The oil and gas exploration company's shares have seen a decrease of 4.99% over the last month, not keeping up with the Oils-Energy sector's loss of 0.62% and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of Devon Energy in its upcoming release. In that report, analysts expect Devon Energy to post earnings of $1.18 per share. This would mark year-over-year growth of 13.46%. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 67.52% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $5.27 per share and a revenue of $25.84 billion, demonstrating changes of +34.44% and +50.36%, respectively, from the preceding year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.43% upward. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 8.84. This represents a discount compared to its industry average Forward P/E of 8.94.
Also, we should mention that DVN has a PEG ratio of 1.26. 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. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.73.
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 gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.