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Devon Energy (DVN) Stock Moves -0.12%: What You Should Know
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Devon Energy (DVN - Free Report) ended the recent trading session at $43.41, demonstrating a -0.12% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.6% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The the stock of oil and gas exploration company has risen by 5.54% in the past month, lagging the Oils-Energy sector's gain of 5.59% and overreaching the S&P 500's gain of 3.56%.
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 February 27, 2024. The company is forecasted to report an EPS of $1.39, showcasing a 16.27% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $3.87 billion, reflecting a 9.98% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.52% lower. Right now, Devon Energy possesses a Zacks Rank of #4 (Sell).
With respect to valuation, Devon Energy is currently being traded at a Forward P/E ratio of 8.13. This signifies a discount in comparison to the average Forward P/E of 9.1 for its industry.
Meanwhile, DVN's PEG ratio is currently 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.69 based on yesterday's closing prices.
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 239, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Stock Moves -0.12%: What You Should Know
Devon Energy (DVN - Free Report) ended the recent trading session at $43.41, demonstrating a -0.12% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.6% for the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
The the stock of oil and gas exploration company has risen by 5.54% in the past month, lagging the Oils-Energy sector's gain of 5.59% and overreaching the S&P 500's gain of 3.56%.
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 February 27, 2024. The company is forecasted to report an EPS of $1.39, showcasing a 16.27% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $3.87 billion, reflecting a 9.98% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.52% lower. Right now, Devon Energy possesses a Zacks Rank of #4 (Sell).
With respect to valuation, Devon Energy is currently being traded at a Forward P/E ratio of 8.13. This signifies a discount in comparison to the average Forward P/E of 9.1 for its industry.
Meanwhile, DVN's PEG ratio is currently 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.69 based on yesterday's closing prices.
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 239, which puts it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.