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Devon Energy (DVN) closed the latest trading day at $35.33, indicating a -1.75% change from the previous session's end. This change lagged the S&P 500's 1.46% loss on the day. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq lost 3.07%.
The oil and gas exploration company's stock has climbed by 15.26% in the past month, exceeding the Oils-Energy sector's loss of 3.28% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of Devon Energy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 18, 2025. The company's upcoming EPS is projected at $1, signifying a 29.08% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.24 billion, indicating a 2.2% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Devon Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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, 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 1.55% higher. As of now, Devon Energy holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 7.42 right now. This represents a discount compared to its industry's average Forward P/E of 9.45.
It's also important to note that DVN currently trades at a PEG ratio of 1.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 1.38 as trading concluded yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.