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In the latest market close, Devon Energy (DVN) reached $37.95, with a -1.22% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1%. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 1.51%.
Heading into today, shares of the oil and gas exploration company had gained 25.89% over the past month, outpacing the Oils-Energy sector's loss of 3.79% and the S&P 500's loss of 2.14% in that time.
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 February 18, 2025. It is anticipated that the company will report an EPS of $1.02, marking a 27.66% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.26 billion, indicating a 2.76% increase compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 4.28% lower within the past month. Devon Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Devon Energy is currently trading at a Forward P/E ratio of 8.41. This signifies a discount in comparison to the average Forward P/E of 10.34 for its industry.
We can additionally observe that DVN currently boasts a PEG ratio of 1.27. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.53 as of yesterday's close.
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 153, which puts it in the bottom 40% of all 250+ industries.