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Devon Energy (DVN) Exceeds Market Returns: Some Facts to Consider
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Devon Energy (DVN - Free Report) ended the recent trading session at $47.16, demonstrating a +2.43% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.2%. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Heading into today, shares of the oil and gas exploration company had lost 6.1% over the past month, lagging the Oils-Energy sector's loss of 2.32% and the S&P 500's loss of 0.35%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. It is anticipated that the company will report an EPS of $1.18, marking a 13.46% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 67.52% from the prior-year quarter.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $5.27 per share and revenue of $25.84 billion. These results would represent year-over-year changes of +34.44% and +50.36%, respectively.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 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).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 8.73. This expresses a discount compared to the average Forward P/E of 8.89 of its industry.
It's also important to note that DVN currently trades at a PEG ratio of 1.25. 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. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.72.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Exceeds Market Returns: Some Facts to Consider
Devon Energy (DVN - Free Report) ended the recent trading session at $47.16, demonstrating a +2.43% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.2%. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Heading into today, shares of the oil and gas exploration company had lost 6.1% over the past month, lagging the Oils-Energy sector's loss of 2.32% and the S&P 500's loss of 0.35%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. It is anticipated that the company will report an EPS of $1.18, marking a 13.46% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.26 billion, up 67.52% from the prior-year quarter.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $5.27 per share and revenue of $25.84 billion. These results would represent year-over-year changes of +34.44% and +50.36%, respectively.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 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).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 8.73. This expresses a discount compared to the average Forward P/E of 8.89 of its industry.
It's also important to note that DVN currently trades at a PEG ratio of 1.25. 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. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.72.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.