Devon Energy (DVN -0.09%) is a fairly easy company to understand. However, how it fits into a portfolio can be a bit more complicated to figure out.
Devon Energy (DVN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
In the most recent trading session, Devon Energy (DVN) closed at $35.33, indicating a -1.75% shift from the previous trading day.
The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
In the most recent trading session, Devon Energy (DVN) closed at $36.45, indicating a -0.03% shift from the previous trading day.
Devon Energy (DVN) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Devon Energy (DVN) closed at $37.95 in the latest trading session, marking a -1.22% move from the prior day.
Devon Energy (DVN) reachead $37.18 at the closing of the latest trading day, reflecting a +1.12% change compared to its last close.
DVN stock's stable performance and well-balanced multi-basin holdings make it attractive. But investors should wait for a better entry point as its earnings estimates are going down.
With an almost 28% decline in 2024, Devon Energy (DVN 2.39%) is a stock that fell out of favor with the market. The sell-off has arguably been overdone, as the price of oil spent much of last year trading with a $70 per barrel handle and trades at almost $75 per barrel at the time of this writing.
Devon Energy's acquisition of new acreage and focus on share buybacks, along with $70+ petroleum prices, make it an attractive long-term investment. Despite a 23% decline in core earnings in Q3, due to lower petroleum prices, DVN remains highly profitable and expects a 13% production surge in Q4'24. Trading at a forward P/E ratio of 6.8X, Devon Energy offers a 15% earnings yield, making it a compelling investment compared to rivals like EOG Resources and APA Corporation.