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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 the most recent trading day at $52.74, moving -1.07% from the previous trading session. This change lagged the S&P 500's daily loss of 0.58%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the oil and gas exploration company had lost 5.63% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 2%.
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 $1.51, down 19.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.12 billion, up 8.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.66 per share and revenue of $17.19 billion, which would represent changes of -19.86% and -10.3%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.16% lower. Devon Energy is currently a Zacks Rank #4 (Sell).
Digging into valuation, Devon Energy currently has a Forward P/E ratio of 8.01. This valuation marks a premium compared to its industry's average Forward P/E of 6.84.
We can also see that DVN currently has a PEG ratio of 0.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Devon Energy (DVN) Dips More Than Broader Markets: What You Should Know
Devon Energy (DVN - Free Report) closed the most recent trading day at $52.74, moving -1.07% from the previous trading session. This change lagged the S&P 500's daily loss of 0.58%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the oil and gas exploration company had lost 5.63% in the past month. In that same time, the Oils-Energy sector lost 1.82%, while the S&P 500 gained 2%.
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 $1.51, down 19.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.12 billion, up 8.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.66 per share and revenue of $17.19 billion, which would represent changes of -19.86% and -10.3%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.16% lower. Devon Energy is currently a Zacks Rank #4 (Sell).
Digging into valuation, Devon Energy currently has a Forward P/E ratio of 8.01. This valuation marks a premium compared to its industry's average Forward P/E of 6.84.
We can also see that DVN currently has a PEG ratio of 0.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.35 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.