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.
What Analyst Projections for Key Metrics Reveal About Devon Energy (DVN) Q3 Earnings
Read MoreHide Full Article
Analysts on Wall Street project that Devon Energy (DVN - Free Report) will announce quarterly earnings of $1.24 per share in its forthcoming report, representing an increase of 19.2% year over year. Revenues are projected to reach $7.33 billion, increasing 69.2% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 8.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Devon Energy metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenues- NGL' at $723.57 million. The estimate points to a change of +103.3% from the year-ago quarter.
Analysts predict that the 'Revenues- Marketing and midstream revenues' will reach $2.28 billion. The estimate suggests a change of +57.8% year over year.
Based on the collective assessment of analysts, 'Revenues- Oil, gas and NGL sales' should arrive at $5.48 billion. The estimate points to a change of +95.2% from the year-ago quarter.
Analysts expect 'Revenues- Gas' to come in at $638.13 million. The estimate points to a change of +243.1% from the year-ago quarter.
The consensus estimate for 'Production - Natural gas liquids - Total' stands at 373.02 thousands of barrels of oil per day. Compared to the current estimate, the company reported 228.00 thousands of barrels of oil per day in the same quarter of the previous year.
The consensus among analysts is that 'Production - Oil - Total' will reach 557.24 thousands of barrels of oil per day. Compared to the present estimate, the company reported 390.00 thousands of barrels of oil per day in the same quarter last year.
It is projected by analysts that the 'Production - Gas - Total' will reach . The estimate is in contrast to the year-ago figure of .
The collective assessment of analysts points to an estimated 'Production - Total oil equivalent per day' of 1,682.14 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 853.00 thousands of barrels of oil equivalent.
The combined assessment of analysts suggests that 'Realized Prices - Oil (Realized price without hedges)' will likely reach $81.09 . Compared to the present estimate, the company reported $63.21 in the same quarter last year.
Analysts' assessment points toward 'Realized Prices - Natural gas liquids (Realized price without hedges)' reaching $22.55 . Compared to the current estimate, the company reported $17.01 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Realized Prices - Natural gas liquids (Realized price, including cash settlements)' should come in at $21.78 . The estimate is in contrast to the year-ago figure of $17.18 .
Analysts forecast 'Realized Prices - Oil (Realized price, including cash settlements)' to reach $76.93 . The estimate is in contrast to the year-ago figure of $63.99 .
Shares of Devon Energy have demonstrated returns of +1.4% over the past month compared to the Zacks S&P 500 composite's -2.3% change. With a Zacks Rank #2 (Buy), DVN is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
Image: Bigstock
What Analyst Projections for Key Metrics Reveal About Devon Energy (DVN) Q3 Earnings
Analysts on Wall Street project that Devon Energy (DVN - Free Report) will announce quarterly earnings of $1.24 per share in its forthcoming report, representing an increase of 19.2% year over year. Revenues are projected to reach $7.33 billion, increasing 69.2% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 8.6% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Devon Energy metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenues- NGL' at $723.57 million. The estimate points to a change of +103.3% from the year-ago quarter.
Analysts predict that the 'Revenues- Marketing and midstream revenues' will reach $2.28 billion. The estimate suggests a change of +57.8% year over year.
Based on the collective assessment of analysts, 'Revenues- Oil, gas and NGL sales' should arrive at $5.48 billion. The estimate points to a change of +95.2% from the year-ago quarter.
Analysts expect 'Revenues- Gas' to come in at $638.13 million. The estimate points to a change of +243.1% from the year-ago quarter.
The consensus estimate for 'Production - Natural gas liquids - Total' stands at 373.02 thousands of barrels of oil per day. Compared to the current estimate, the company reported 228.00 thousands of barrels of oil per day in the same quarter of the previous year.
The consensus among analysts is that 'Production - Oil - Total' will reach 557.24 thousands of barrels of oil per day. Compared to the present estimate, the company reported 390.00 thousands of barrels of oil per day in the same quarter last year.
It is projected by analysts that the 'Production - Gas - Total' will reach . The estimate is in contrast to the year-ago figure of .
The collective assessment of analysts points to an estimated 'Production - Total oil equivalent per day' of 1,682.14 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 853.00 thousands of barrels of oil equivalent.
The combined assessment of analysts suggests that 'Realized Prices - Oil (Realized price without hedges)' will likely reach $81.09 . Compared to the present estimate, the company reported $63.21 in the same quarter last year.
Analysts' assessment points toward 'Realized Prices - Natural gas liquids (Realized price without hedges)' reaching $22.55 . Compared to the current estimate, the company reported $17.01 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Realized Prices - Natural gas liquids (Realized price, including cash settlements)' should come in at $21.78 . The estimate is in contrast to the year-ago figure of $17.18 .
Analysts forecast 'Realized Prices - Oil (Realized price, including cash settlements)' to reach $76.93 . The estimate is in contrast to the year-ago figure of $63.99 .
View all Key Company Metrics for Devon Energy here>>>Shares of Devon Energy have demonstrated returns of +1.4% over the past month compared to the Zacks S&P 500 composite's -2.3% change. With a Zacks Rank #2 (Buy), DVN is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .