Yahoo Finance Devon Energy (DVN) Stock Moves -0.22%: What You Should Know
In the latest market close, Devon Energy (DVN) reached $40.37, with a -0.22% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
The oil and gas exploration company's stock has dropped by 8.13% in the past month, falling short of the Oils-Energy sector's loss of 2.45% and the S&P 500's gain of 1.57%.
Investors will be eagerly watching for the performance of Devon Energy in its upcoming earnings disclosure. The company is expected to report EPS of $1.21, down 26.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.86 billion, up 0.62% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.18 per share and a revenue of $15.6 billion, signifying shifts of -9.28% and +2.25%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 4.41% fall in the Zacks Consensus EPS estimate. Devon Energy is currently a Zacks Rank #3 (Hold).
Looking at valuation, Devon Energy is presently trading at a Forward P/E ratio of 7.81. Its industry sports an average Forward P/E of 9.95, so one might conclude that Devon Energy is trading at a discount comparatively.
Meanwhile, DVN's PEG ratio is currently 1.18. 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. DVN's industry had an average PEG ratio of 1.24 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 218, placing it within the bottom 14% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Devon Energy Corporation (DVN) : Free Stock Analysis Report
