In the latest market close, Devon Energy (DVN) reached $35.15, with a +1.33% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.25%, while the tech-heavy Nasdaq depreciated by 0.06%.
Prior to today's trading, shares of the oil and gas exploration company had lost 0.12% over the past month. This has was narrower than the Oils-Energy sector's loss of 10.75% and the S&P 500's loss of 2.8% in that time.
The investment community will be closely monitoring the performance of Devon Energy in its forthcoming earnings report. The company is scheduled to release its earnings on February 18, 2025. The company's earnings per share (EPS) are projected to be $0.97, reflecting a 31.21% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.21 billion, up 1.67% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.99% decrease. Right now, Devon Energy possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Devon Energy is presently trading at a Forward P/E ratio of 7.27. This signifies a discount in comparison to the average Forward P/E of 9.93 for its industry.
Investors should also note that DVN has a PEG ratio of 1.1 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.21 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% 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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