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) Stock Slides as Market Rises: Facts to Know Before You Trade
Read MoreHide Full Article
The most recent trading session ended with Devon Energy (DVN - Free Report) standing at $46.17, reflecting a -1.28% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.2% gain on the day. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The the stock of oil and gas exploration company has fallen by 1.95% in the past month, leading the Oils-Energy sector's loss of 5.73% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $1.55, marking a 28.9% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.03 billion, down 25.8% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.94 per share and revenue of $15.47 billion. These totals would mark changes of -28.52% and -19.3%, respectively, from last year.
It is also important to note the 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.34% higher. Right now, Devon Energy possesses a Zacks Rank of #2 (Buy).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.88. This denotes a discount relative to the industry's average Forward P/E of 9.27.
One should further note that DVN currently holds a PEG ratio of 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.43.
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 21, which puts it in the top 9% 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.
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) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Devon Energy (DVN - Free Report) standing at $46.17, reflecting a -1.28% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.2% gain on the day. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The the stock of oil and gas exploration company has fallen by 1.95% in the past month, leading the Oils-Energy sector's loss of 5.73% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $1.55, marking a 28.9% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.03 billion, down 25.8% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.94 per share and revenue of $15.47 billion. These totals would mark changes of -28.52% and -19.3%, respectively, from last year.
It is also important to note the 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. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.34% higher. Right now, Devon Energy possesses a Zacks Rank of #2 (Buy).
Investors should also note Devon Energy's current valuation metrics, including its Forward P/E ratio of 7.88. This denotes a discount relative to the industry's average Forward P/E of 9.27.
One should further note that DVN currently holds a PEG ratio of 0.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.43.
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 21, which puts it in the top 9% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.