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Devon Energy (DVN) closed at $38.40 in the latest trading session, marking a -0.72% move from the prior day. This change lagged the S&P 500's daily gain of 0.83%.
Prior to today's trading, shares of the oil and gas exploration company had gained 37.02% over the past month. This has outpaced the Oils-Energy sector's gain of 9.14% and the S&P 500's loss of 3.68% in that time.
DVN will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. In that report, analysts expect DVN to post earnings of $0.88 per share. This would mark year-over-year growth of 2300%. Our most recent consensus estimate is calling for quarterly revenue of $3.11 billion, up 191.31% from the year-ago period.
DVN's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $10.73 billion. These results would represent year-over-year changes of +3233.33% and +122.25%, respectively.
Any recent changes to analyst estimates for DVN should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.22% lower. DVN is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note DVN's current valuation metrics, including its Forward P/E ratio of 13.73. This valuation marks a premium compared to its industry's average Forward P/E of 10.9.
It is also worth noting that DVN currently has a PEG ratio of 0.43. 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 industry currently 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 industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Devon Energy Corporation (DVN) : Free Stock Analysis Report
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