Devon Energy (DVN) Outperforms Broader Market: What You Need to Know

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].