Yahoo Finance Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
Devon Energy (DVN) closed at $39.93 in the latest trading session, marking a -0.75% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.07%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
The the stock of oil and gas exploration company has fallen by 9.88% in the past month, lagging the Oils-Energy sector's loss of 4.22% and the S&P 500's gain of 2.92%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. In that report, analysts expect Devon Energy to post earnings of $1.30 per share. This would mark a year-over-year decline of 21.21%. Our most recent consensus estimate is calling for quarterly revenue of $3.96 billion, up 3.3% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.36 per share and a revenue of $15.88 billion, indicating changes of -6.13% and +4.07%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Devon Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.51% lower. At present, Devon Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Devon Energy is at present trading with a Forward P/E ratio of 7.51. For comparison, its industry has an average Forward P/E of 9.35, which means Devon Energy is trading at a discount to the group.
Also, we should mention that DVN has a PEG ratio of 1.14. 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 the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 1.15.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 15% 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.
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
