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In the latest trading session, Devon Energy (DVN) closed at $49.64, marking a -0.52% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.42%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the oil and gas exploration company had gained 24.81% over the past month. This has outpaced the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Devon Energy as it approaches its next earnings report date. This is expected to be February 15, 2022. Meanwhile, our latest consensus estimate is calling for revenue of $3.71 billion, up 189.53% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Devon Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.44% lower. Devon Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Devon Energy currently has a Forward P/E ratio of 9.11. This valuation marks a premium compared to its industry's average Forward P/E of 6.24.
We can also see that DVN currently has a PEG ratio of 0.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. DVN's industry had an average PEG ratio of 0.29 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 202, which puts it in the bottom 21% 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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Devon Energy Corporation (DVN) : Free Stock Analysis Report
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