Devon Energy (DVN) ended the recent trading session at $42.66, demonstrating a -1.16% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.21% for the day. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, lost 0.22%.

Shares of the oil and gas exploration company witnessed a gain of 2.79% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 5.56%, and outperforming the S&P 500's gain of 1.7%.

The investment community will be closely monitoring the performance of Devon Energy in its forthcoming earnings report. The company is scheduled to release its earnings on August 4, 2026. The company is forecasted to report an EPS of $1.3, showcasing a 54.76% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.3 billion, showing a 47.02% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $4.64 per share and a revenue of $24.28 billion, demonstrating changes of +18.37% and +41.25%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.9% downward. At present, Devon Energy boasts a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Devon Energy has a Forward P/E ratio of 9.31 right now. This signifies a discount in comparison to the average Forward P/E of 9.84 for its industry.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 217, finds itself in the bottom 12% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Free: See Our Top Stock And 4 Runners Up

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 Corporation (DVN): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research