Devon Energy (DVN) closed at $38.99 in the latest trading session, marking a -0.66% move from the prior day. This change lagged the S&P 500's 0.3% gain on the day.

Coming into today, shares of the oil and gas exploration company had gained 38.84% in the past month. In that same time, the Oils-Energy sector gained 14.29%, while the S&P 500 lost 2.37%.

Wall Street will be looking for positivity from DVN as it approaches its next earnings report date. This is expected to be November 2, 2021. The company is expected to report EPS of $0.90, up 2350% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.12 billion, up 192.02% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.86 per share and revenue of $10.9 billion. These totals would mark changes of +3277.78% and +125.84%, respectively, from last year.

Any recent changes to analyst estimates for DVN should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.19% higher. DVN is currently a Zacks Rank #2 (Buy).

Investors should also note DVN's current valuation metrics, including its Forward P/E ratio of 13.73. For comparison, its industry has an average Forward P/E of 10.59, which means DVN is trading at a premium to the group.

Investors should also note that DVN has a PEG ratio of 0.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.49 at yesterday's closing price.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 22, which puts it in the top 9% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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