One stock that might be an intriguing choice for investors right now is Devon Energy Corporation DVN. This is because this security in the Oil and Gas - Exploration and Production - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Exploration and Production - United States space as it currently has a Zacks Industry Rank of 43 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Devon Energy is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past two months, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Devon Energy Corporation Price and Consensus
Devon Energy Corporation price-consensus-chart | Devon Energy Corporation Quote
In fact, over the past two months, current quarter estimates have narrowed from a loss of 26 cents per share to a loss of 19 cents per share, while current year estimates have narrowed from a loss of 39 cents per share to a loss of 29 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Devon Energy. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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