Devon Energy has become one of the most searched-for stocks on Zacks.com, with shares returning +4.5% over the past month versus the Zacks S&P 500 composite's -2% change, while the Zacks Oil and Gas - Exploration and Production - United States industry gained 4.7% over the same period. For the current quarter, Devon Energy is expected to post earnings of $1.17 per share, a change of +12.5% from the year-ago quarter, and the Zacks Consensus Estimate has moved +3.3% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $5.21 points to a change of +32.9% from the prior year and has risen +4.3% over the last 30 days, while the next fiscal year's estimate of $5.04 indicates a change of -3.2% and has moved +1% over the past month. The consensus sales estimate of $6.91 billion for the current quarter points to a year-over-year change of +59.6%, with $24.69 billion and $26.62 billion expected for the current and next fiscal years, changes of +43.6% and +7.8% respectively. Devon Energy reported revenues of $7.42 billion in the last reported quarter, a year-over-year change of +73.1%, with EPS of $1.57 versus $0.84 a year ago, beating the Zacks Consensus Estimate of $6.3 billion by +17.76% on revenue and surprising by +20.77% on EPS, and the company is rated Zacks Rank #3 (Hold) with a Value Style Score of B.
Devon Energy CorporationRising consensus earnings and sales estimates plus a strong prior-quarter beat drive the positive analyst-valuation signal for Devon Energy.
