We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Devon Energy (DVN - Free Report) closed at $48.83 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.12% gain on the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Devon Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $1.39, down 46.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.99 billion, down 29.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.14 per share and revenue of $16.11 billion. These totals would mark changes of -26.11% and -15.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 3.89% lower within the past month. 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 7.87. This valuation marks a premium compared to its industry's average Forward P/E of 7.53.
Also, we should mention that DVN has a PEG ratio of 0.15. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.38 as of yesterday's close.
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 225, putting it in the bottom 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Devon Energy (DVN) Outpaces Stock Market Gains: What You Should Know
Devon Energy (DVN - Free Report) closed at $48.83 in the latest trading session, marking a +1.01% move from the prior day. This change outpaced the S&P 500's 0.12% gain on the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Devon Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $1.39, down 46.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.99 billion, down 29.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.14 per share and revenue of $16.11 billion. These totals would mark changes of -26.11% and -15.97%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Devon Energy. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 3.89% lower within the past month. 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 7.87. This valuation marks a premium compared to its industry's average Forward P/E of 7.53.
Also, we should mention that DVN has a PEG ratio of 0.15. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.38 as of yesterday's close.
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 225, putting it in the bottom 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.