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Devon Energy (DVN) Stock Dips While Market Gains: Key Facts

Devon Energy (DVN) ended the recent trading session at $45.65, demonstrating a -0.24% swing from the preceding day's closing price. This change lagged the S&P 500's 0.25% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.

Shares of the oil and gas exploration company have depreciated by 8.52% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.99% and the S&P 500's gain of 3.34%.

Analysts and investors alike will be keeping a close eye on the performance of Devon Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.30, showcasing a 10.17% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $3.9 billion, indicating a 12.9% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of $5.24 per share and a revenue of $15.38 billion, demonstrating changes of -8.23% and +0.79%, respectively, from the preceding year.

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It's also important for investors to be aware of any recent modifications 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. Devon Energy currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 8.74. This valuation marks a discount compared to its industry's average Forward P/E of 9.64.

Meanwhile, DVN's PEG ratio is currently 1.21. 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. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 1.12.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 26% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Devon Energy Corporation (DVN) : Free Stock Analysis Report

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