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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.
In the most recent trading session, Devon Energy (DVN) closed at $35.15, indicating a +1.33% 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 is rated a BUY due to its counter-cyclical investment opportunity and significant free cash flow growth from the Grayson Mill acquisition. The market has completely forgotten about the GM acquisition on the eve of the first full quarter operating under DVN. The addition of this high oil cut producer will add $200 million in FCF in Q4 despite the commodity weakness.
Now that the confetti and champagne bottles have been cleared away, many people are looking to start the new year off by adding some new names to their portfolios. With so many stocks to consider, it's easy to feel overwhelmed with the choices.