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Devon Energy (DVN) Dips More Than Broader Markets: What You Should Know
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Devon Energy (DVN - Free Report) closed at $55.19 in the latest trading session, marking a -1.8% move from the prior day. This move lagged the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the oil and gas exploration company had gained 2.67% in the past month. In that same time, the Oils-Energy sector lost 4.39%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. This is expected to be August 1, 2022. The company is expected to report EPS of $2.38, up 296.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.77 billion, up 97.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.23 per share and revenue of $18.73 billion, which would represent changes of +161.47% and +57.15%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Devon Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.37% higher. Devon Energy is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Devon Energy currently has a Forward P/E ratio of 6.09. This valuation marks a premium compared to its industry's average Forward P/E of 4.34.
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 15, which puts it in the top 6% 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.
To follow DVN in the coming trading sessions, be sure to utilize Zacks.com.
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Devon Energy (DVN) Dips More Than Broader Markets: What You Should Know
Devon Energy (DVN - Free Report) closed at $55.19 in the latest trading session, marking a -1.8% move from the prior day. This move lagged the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.14%.
Coming into today, shares of the oil and gas exploration company had gained 2.67% in the past month. In that same time, the Oils-Energy sector lost 4.39%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. This is expected to be August 1, 2022. The company is expected to report EPS of $2.38, up 296.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.77 billion, up 97.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.23 per share and revenue of $18.73 billion, which would represent changes of +161.47% and +57.15%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Devon Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.37% higher. Devon Energy is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Devon Energy currently has a Forward P/E ratio of 6.09. This valuation marks a premium compared to its industry's average Forward P/E of 4.34.
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 15, which puts it in the top 6% 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.
To follow DVN in the coming trading sessions, be sure to utilize Zacks.com.