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Devon Energy (DVN) Stock Moves -0.8%: What You Should Know

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·3 min read
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In the latest trading session, Devon Energy (DVN) closed at $26.01, marking a -0.8% move from the previous day. This change was narrower than the S&P 500's 1.04% loss on the day.

Coming into today, shares of the oil and gas exploration company had gained 17.37% in the past month. In that same time, the Oils-Energy sector gained 7.07%, while the S&P 500 gained 3.83%.

On that day, DVN is projected to report earnings of $0.49 per share, which would represent year-over-year growth of 372.22%. Our most recent consensus estimate is calling for quarterly revenue of $2.5 billion, up 534.27% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.12 per share and revenue of $9.59 billion, which would represent changes of +2455.56% and +98.67%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for DVN. These revisions help to show the ever-changing nature 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 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. The Zacks Consensus EPS estimate has moved 6.24% higher within the past month. DVN currently has a Zacks Rank of #1 (Strong Buy).

In terms of valuation, DVN is currently trading at a Forward P/E ratio of 12.38. This valuation marks a premium compared to its industry's average Forward P/E of 9.42.

We can also see that DVN currently has a PEG ratio of 0.67. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.66 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 82, which puts it in the top 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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