In the latest trading session, Devon Energy (DVN) closed at $29.39, marking a -1.8% move from the previous day. This change lagged the S&P 500's daily gain of 0.47%.
Prior to today's trading, shares of the oil and gas exploration company had gained 17% over the past month. This has outpaced the Oils-Energy sector's gain of 3.36% and the S&P 500's loss of 0.12% in that time.
DVN will be looking to display strength as it nears its next earnings release. On that day, DVN is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 361.11%. Our most recent consensus estimate is calling for quarterly revenue of $2.3 billion, up 483.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.17 per share and revenue of $8.94 billion. These totals would mark changes of +2511.11% and +85.26%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for DVN. Recent revisions tend to reflect the latest 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. DVN is currently a Zacks Rank #3 (Hold).
Investors should also note DVN's current valuation metrics, including its Forward P/E ratio of 13.81. This valuation marks a premium compared to its industry's average Forward P/E of 11.23.
We can also see that DVN currently has a PEG ratio of 0.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.75 at yesterday's closing price.
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 102, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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