Yahoo Finance Devon Energy (DVN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Devon Energy (DVN) closed at $40.30, marking a -0.54% move from the previous day. This change lagged the S&P 500's daily gain of 0.74%.
Heading into today, shares of the oil and gas exploration company had gained 43.79% over the past month, outpacing the Oils-Energy sector's gain of 14.41% and the S&P 500's gain of 1.34% in that time.
Wall Street will be looking for positivity from DVN as it approaches its next earnings report date. This is expected to be November 2, 2021. The company is expected to report EPS of $0.91, up 2375% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.15 billion, up 195.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.90 per share and revenue of $10.97 billion. These totals would mark changes of +3322.22% and +127.29%, respectively, from last year.
Any recent changes to analyst estimates for DVN should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.05% higher. DVN is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, DVN currently has a Forward P/E ratio of 13.98. This valuation marks a premium compared to its industry's average Forward P/E of 10.56.
Investors should also note that DVN has a PEG ratio of 0.43 right now. 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 0.47 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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