| Can Devon Energy (DVN) Run Higher on Strong Earnings Estimate Revisions? | |
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Devon Energy Corporation DVN is an Oil Exploration & Production company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DVN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Devon Energy could be a solid choice for investors.
Current Quarter Estimates for DVN
In the past 30 days, 6 estimates have gone higher for Devon Energy while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 71 cents a share 30 days ago, to 80 cents today, a move of 12.7%.
Current Year Estimates for DVN
Meanwhile, Devon Energy’s current year figures are also looking quite promising, with 9 estimates moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing/narrowing from $2.16 per share 30 days ago to $2.46 per share today, an increase of 13.9%.
Bottom Line
The stock has also started to move higher lately, adding 5.0% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DEVON ENERGY (DVN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Devon Energy is a and oil producing company based in United states of america. Devon Energy holds various exploration projects in Canada. Its main exploration property is JACKFISH OIL SANDS PROJECT in Canada. Devon Energy is listed in United States of America. Its market capitalisation is US$ 27.3 billions as of today (€ 25.5 billions). Its stock quote reached its lowest recent point on August 18, 1995 at US$ 10.00, and its highest recent level on February 22, 2008 at US$ 99.19. Devon Energy has 525 000 000 shares outstanding. |