In the latest close session, Devon Energy (DVN) was down 1.16% at $50.78. This change lagged the S&P 500's 0.29% gain on the day. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq increased by 0.89%.
Shares of the oil and gas exploration company have appreciated by 3.8% over the course of the past month, outperforming the Oils-Energy sector's gain of 1.35%, and lagging the S&P 500's gain of 10.54%.
The upcoming earnings release of Devon Energy will be of great interest to investors. The company's earnings report is expected on May 5, 2026. The company is predicted to post an EPS of $1, indicating a 17.36% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.14 billion, down 6.93% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.48 per share and a revenue of $18.63 billion, representing changes of +39.8% and +8.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Devon Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 20.95% increase. Right now, Devon Energy possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Devon Energy is holding a Forward P/E ratio of 9.37. This represents a discount compared to its industry average Forward P/E of 10.58.
We can also see that DVN currently has a PEG ratio of 0.81. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.92 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 11, positioning it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Devon Energy Corporation (DVN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).