Devon Energy (DVN): Strong Industry, Solid Earnings Estimate Revisions
Devon Energy (DVN) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
One stock that might be an intriguing choice for investors right now is Devon Energy Corporation DVN. This is because this security in the Oil and Gas - Exploration and Production - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Exploration and Production - United States space as it currently has a Zacks Industry Rank of 28 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Devon Energy is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 78 cents per share to 85 cents per share, while current year estimates have risen from $2.58 per share to $2.75 per share. This has helped DVN to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position.You can see the complete list of today’s Zacks #1 Rank stocks here.
So, if you are looking for a decent pick in a strong industry, consider Devon Energy. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>
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
To read this article on Zacks.com click here.