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Devon Energy (DVN) closed at $36.45 in the latest trading session, marking a -0.03% move from the prior day. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 0.22%.
Shares of the oil and gas exploration company witnessed a gain of 16.71% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.54% and the S&P 500's gain of 2.69%.
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 is expected to report EPS of $1.03, down 26.95% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $4.26 billion, indicating a 2.76% growth compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for Devon Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.94% decrease. Currently, Devon Energy is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Devon Energy is currently exchanging hands at a Forward P/E ratio of 7.96. For comparison, its industry has an average Forward P/E of 10.21, which means Devon Energy is trading at a discount to the group.
We can additionally observe that DVN currently boasts a PEG ratio of 1.21. 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 average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 1.47 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 67, this industry ranks in the top 27% of all industries, numbering over 250.