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Devon Energy (DVN) Stock Moves -0.96%: What You Should Know
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In the latest market close, Devon Energy (DVN - Free Report) reached $45.24, with a -0.96% movement compared to the previous day. This change was narrower than the S&P 500's 1.47% loss on the day. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
Shares of the oil and gas exploration company have appreciated by 0.95% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is predicted to post an EPS of $1.57, indicating a 5.42% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.95 billion, indicating an 8.02% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.86 per share and a revenue of $15.1 billion, signifying shifts of -29.48% and -21.22%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 1.03% lower. Devon Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 7.8. This valuation marks a discount compared to its industry's average Forward P/E of 8.7.
Investors should also note that DVN has a PEG ratio of 0.15 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.44 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 180, positioning it in the bottom 29% 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.
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 Moves -0.96%: What You Should Know
In the latest market close, Devon Energy (DVN - Free Report) reached $45.24, with a -0.96% movement compared to the previous day. This change was narrower than the S&P 500's 1.47% loss on the day. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
Shares of the oil and gas exploration company have appreciated by 0.95% over the course of the past month, underperforming the Oils-Energy sector's gain of 1.46% and the S&P 500's gain of 5.77%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is predicted to post an EPS of $1.57, indicating a 5.42% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.95 billion, indicating an 8.02% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.86 per share and a revenue of $15.1 billion, signifying shifts of -29.48% and -21.22%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 1.03% lower. Devon Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is presently being traded at a Forward P/E ratio of 7.8. This valuation marks a discount compared to its industry's average Forward P/E of 8.7.
Investors should also note that DVN has a PEG ratio of 0.15 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.44 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 180, positioning it in the bottom 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.