Core Viewpoint - Devon Energy's stock performance has been mixed, with a recent gain but a decline over the past month, and upcoming earnings are anticipated to show a significant drop in EPS compared to the previous year [1][2]. Company Performance - Devon Energy closed at $42.42, reflecting a +1.51% increase from the previous day, outperforming the S&P 500's gain of 0.9% [1]. - Over the past month, shares of Devon Energy have decreased by 0.69%, underperforming the Oils-Energy sector's gain of 5.22% and the S&P 500's gain of 3.15% [1]. Upcoming Earnings - The earnings report for Devon Energy is scheduled for November 5, 2024, with projected EPS of $1.14, indicating a 30.91% decline year-over-year [2]. - Revenue is expected to be $3.8 billion, reflecting a 0.95% decrease compared to the same quarter of the previous year [2]. Full-Year Estimates - Zacks Consensus Estimates predict full-year earnings of $5.02 per share and revenue of $15.47 billion, representing year-over-year changes of -12.08% and +1.37%, respectively [3]. Analyst Projections - Recent shifts in analyst projections for Devon Energy should be monitored, as they often indicate short-term business trends and analyst sentiment regarding the company's profitability [4]. Zacks Rank and Valuation - Devon Energy currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate decreasing by 6.23% over the last 30 days [6]. - The company has a Forward P/E ratio of 8.32, which is lower than the industry average of 10.03 [7]. PEG Ratio - Devon Energy's PEG ratio stands at 1.26, compared to the industry average of 1.34, indicating a relatively favorable valuation considering expected earnings growth [8]. Industry Context - The Oil and Gas - Exploration and Production - United States industry is ranked 237 in the Zacks Industry Rank, placing it in the bottom 6% of over 250 industries [9].

It's time to hedge geopolitical risk by getting exposure to oil stocks. Devon Energy (DVN 1.34%) stock has moved in line with oil prices this year. So it's no surprise that a decline in the latter has led to a sell-off in recent months. And that in turn has led to downbeat views from several Wall Street analysts. Devon Energy's price targets Analysts have been lowering price targets on Devon Energy in recent weeks, as oil prices have declined from the mid-$80s in the summer to $72. Most recently, Truist fol ...

Lower oil prices overshadowed a positive development. Shares of Devon Energy (DVN 3.19%) fell 12.6% in September, according to data provided by S&P Global Market Intelligence. The culprit was lower oil prices. That offset the positive effect of closing a needle-moving acquisition. Down despite a big deal Oil prices were under pressure again last month. WTI, the main U.S. oil price benchmark, fell another 7.3% in September, closing the month at around $68 per barrel. It has now declined by 16.4% over the pas ...

OKLAHOMA CITY, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced that it has completed its previously announced acquisition of Grayson Mill Energy, for a transaction valued at $5 billion before giving effect to purchase price adjustments. The acquisition adds a high-margin production mix that enhances Devon's position as one of the largest producers in the U.S. The transaction transforms the company's Williston Basin business, with the addition of 307,000 net acres, 500 undri ...

Devon Energy Corporation (DVN) is currently trading at a discount compared with its industry on a trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) basis. Devon is currently trading at 4.01X, lower than its industry's average of 7.17X. Devon is trading 12.4% below its five-year median of 4.58X. DVN currently has a Value Score of A. Devon is attractively valued compared with other companies like Chesapeake Energy Corporation (CHK) and EQT Corporatio ...

Devon Energy (DVN) closed the most recent trading day at $41.01, moving -0.27% from the previous trading session. This change lagged the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.56%. Shares of the oil and gas exploration company have depreciated by 8.91% over the course of the past month, underperforming the Oils-Energy sector's loss of 0.05% and the S&P 500's gain of 1.65%. Market participants will be closely follo ...

OKLAHOMA CITY, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced it will report third-quarter 2024 results on Tuesday, Nov. 5, after the close of U.S. financial markets. The earnings release and presentation for the third-quarter 2024 results will be available on the company's website at www.devonenergy.com. On Wednesday, Nov. 6, the company will hold a conference call at 10 a.m. CST (11 a.m. EST), which will consist primarily of answers to questions from analysts and investo ...

Anton Zharkov is a financial analyst specializing in manufacturing companies across all industries except financial companies, insurers, REITs, and banks. In his articles, he will provide detailed analysis of mega and large-cap stocks for long/short portfolios, utilizing quantitative models from Eyestock.io. He will focus on factors such as growth, value, and high-quality, complementing these with classic bottom-up fundamental analysis. Most of the stocks discussed in his articles will be purchased or alrea ...

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