In the latest close session, Devon Energy (DVN) was down 1.08% at $42.93. The stock fell short of the S&P 500, which registered a gain of 0.38% for the day. Elsewhere, the Dow saw an upswing of 0.29%, while the tech-heavy Nasdaq appreciated by 0.62%.
The oil and gas exploration company's stock has climbed by 1.19% in the past month, exceeding the Oils-Energy sector's loss of 1.03% and lagging the S&P 500's gain of 1.61%.
The investment community will be paying close attention to the earnings performance of Devon Energy in its upcoming release. The company is slated to reveal its earnings on August 4, 2026. In that report, analysts expect Devon Energy to post earnings of $1.34 per share. This would mark year-over-year growth of 59.52%. At the same time, our most recent consensus estimate is projecting a revenue of $6.36 billion, reflecting a 48.54% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.71 per share and a revenue of $24.43 billion, indicating changes of +20.15% and +42.16%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Devon Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has shifted 3.31% downward. Right now, Devon Energy possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 9.21 right now. This denotes a discount relative to the industry average Forward P/E of 9.97.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 214, this industry ranks in the bottom 14% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Devon Energy Corporation (DVN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).