Advertisement
New Zealand markets open in 9 hours 58 minutes

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NZD/USD

    0.5961
    +0.0024 (+0.41%)
     

  • NZD/EUR

    0.5559
    +0.0013 (+0.23%)
     

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • OIL

    82.99
    +0.18 (+0.22%)
     

  • GOLD

    2,341.20
    +2.80 (+0.12%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,096.43
    +56.05 (+0.70%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    17,972.10
    -116.60 (-0.64%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • NZD/JPY

    92.7000
    +0.5850 (+0.64%)
     

Devon Energy (DVN) Stock Moves -0.61%: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Devon Energy (DVN) closed at $48.63, marking a -0.61% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.

Prior to today's trading, shares of the oil and gas exploration company had gained 15.7% over the past month. This has outpaced the Oils-Energy sector's gain of 14.22% and the S&P 500's loss of 1.81% in that time.

Investors will be hoping for strength from Devon Energy as it approaches its next earnings release, which is expected to be February 15, 2022. Meanwhile, our latest consensus estimate is calling for revenue of $3.7 billion, up 189.18% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Devon Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

ADVERTISEMENT

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. 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 8.9. This valuation marks a premium compared to its industry's average Forward P/E of 6.03.

Also, we should mention that DVN has a PEG ratio of 0.22. 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. DVN's industry had an average PEG ratio of 0.28 as of yesterday's close.

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 182, which puts it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Devon Energy Corporation (DVN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research