雅虎香港財經 Devon Energy (DVN) Increases Despite Market Slip: Here's What You Need to Know
Devon Energy (DVN) closed at $40.17 in the latest trading session, marking a +0.22% move from the prior day. This change outpaced the S&P 500's 0.05% loss on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.
Shares of the oil and gas exploration company have depreciated by 2.53% over the course of the past month, outperforming the Oils-Energy sector's loss of 9.67% and lagging the S&P 500's gain of 2.76%.
Analysts and investors alike will be keeping a close eye on the performance of Devon Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on November 5, 2024. The company is predicted to post an EPS of $1.13, indicating a 31.52% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $3.78 billion, showing a 1.51% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.03 per share and a revenue of $15.44 billion, signifying shifts of -11.91% and +1.22%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.74% lower. Devon Energy is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 7.97 right now. This expresses a discount compared to the average Forward P/E of 10.06 of its industry.
One should further note that DVN currently holds a PEG ratio of 1.21. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 1.32.
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 237, which puts it in the bottom 6% 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.
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
