Devon Energy (DVN) Suffers a Larger Drop Than the General Market: Key Insights

Company Performance - Devon Energy (DVN) closed at $34.04, reflecting a -1.93% change from the previous day's closing price, underperforming the S&P 500's loss of 0.03% [1] - Over the past month, Devon Energy's shares gained 7.9%, outperforming the Oils-Energy sector's gain of 5.57% and the S&P 500's gain of 0.6% [1] Earnings Expectations - Analysts expect Devon Energy to report earnings of $0.83 per share, indicating a year-over-year decline of 41.13% [2] - The consensus estimate for revenue is $4.02 billion, reflecting a 2.66% growth compared to the same quarter last year [2] Full Year Estimates - For the full year, analysts project earnings of $3.92 per share and revenue of $16.68 billion, representing changes of -18.67% and +4.67% respectively from the previous year [3] - Recent changes to analyst estimates are crucial as they reflect near-term business trends and analysts' confidence in performance [3][4] Valuation Metrics - Devon Energy has a Forward P/E ratio of 8.85, which is a discount compared to the industry average Forward P/E of 12.04 [5] - The company currently has a PEG ratio of 2.59, aligning with the industry average [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry is ranked 182 by Zacks, placing it in the bottom 27% of over 250 industries [7] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]