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Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
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Devon Energy (DVN - Free Report) closed at $58.94 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's daily gain of 2.57%. Elsewhere, the Dow gained 2%, while the tech-heavy Nasdaq added 0.66%.
Prior to today's trading, shares of the oil and gas exploration company had gained 16.19% over the past month. This has outpaced the Oils-Energy sector's gain of 8.36% and the S&P 500's loss of 7.68% in that time.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. The company is expected to report EPS of $1.56, up 246.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.63 billion, up 105.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.17 per share and revenue of $14.67 billion. These totals would mark changes of +74.79% and +23.06%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 5.43% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 9.64. This represents a premium compared to its industry's average Forward P/E of 6.94.
Meanwhile, DVN's PEG ratio is currently 0.24. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.31 at yesterday's closing price.
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 67, which puts it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
Devon Energy (DVN - Free Report) closed at $58.94 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's daily gain of 2.57%. Elsewhere, the Dow gained 2%, while the tech-heavy Nasdaq added 0.66%.
Prior to today's trading, shares of the oil and gas exploration company had gained 16.19% over the past month. This has outpaced the Oils-Energy sector's gain of 8.36% and the S&P 500's loss of 7.68% in that time.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. The company is expected to report EPS of $1.56, up 246.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.63 billion, up 105.9% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.17 per share and revenue of $14.67 billion. These totals would mark changes of +74.79% and +23.06%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 5.43% higher. Devon Energy is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 9.64. This represents a premium compared to its industry's average Forward P/E of 6.94.
Meanwhile, DVN's PEG ratio is currently 0.24. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.31 at yesterday's closing price.
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 67, which puts it in the top 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.