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Devon Energy (DVN) Stock Moves -1.74%: What You Should Know

Zacks Equity Research
·2-min read

Devon Energy (DVN) closed at $6.79 in the latest trading session, marking a -1.74% move from the prior day. This change was narrower than the S&P 500's daily loss of 4.41%. Meanwhile, the Dow lost 4.44%, and the Nasdaq, a tech-heavy index, lost 4.41%.

Prior to today's trading, shares of the oil and gas exploration company had lost 56.24% over the past month. This has lagged the Oils-Energy sector's loss of 30.8% and the S&P 500's loss of 12.16% in that time.

Wall Street will be looking for positivity from DVN as it approaches its next earnings report date. In that report, analysts expect DVN to post earnings of -$0.12 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.20 billion, down 19.96% from the year-ago period.

DVN's full-year Zacks Consensus Estimates are calling for earnings of -$0.40 per share and revenue of $4.84 billion. These results would represent year-over-year changes of -128.99% and -29.37%, respectively.

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It is also important to note the recent changes to analyst estimates for DVN. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 132.39% lower. DVN is currently a Zacks Rank #3 (Hold).

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 159, putting it in the bottom 38% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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