Devon Vitality Company DVN is about to report first-quarter 2024 outcomes on Could 1, after market shut. This oil and gasoline firm delivered a mean earnings shock of three.28% within the final 4 reported quarters.
The Zacks Consensus Estimate for earnings is pegged at $1.10 per share on revenues of $3.62 billion. The highest and bottom-line estimates recommend a decline of 5.4% and 24.7%, respectively, from a yr in the past.
Per our confirmed mannequin, the mixture of a optimistic Earnings ESP and a Zacks Rank #1 (Robust Purchase), 2 (Purchase) or 3 (Maintain) will increase the prospect of an earnings beat. This isn’t the case right here.
At current, Devon Vitality has an Earnings ESP of 0.00% and a Zacks Rank of three.
You may uncover the very best shares to purchase or promote earlier than they’re reported with our Earnings ESP Filter.
Devon Vitality Company Value and EPS Shock
Devon Energy Corporation price-eps-surprise | Devon Vitality Company Quote
Components at Play
Devon Vitality continues to profit from its multi-basin portfolio and excessive margin belongings. Contribution from these belongings permits the corporate to maintain a steady manufacturing quantity.
Extreme climate situation throughout Devon’s portfolio in January 2024 resulted in unplanned energy outages and manufacturing disruptions. Courtesy of its robust portfolio of belongings, antagonistic climate situation is predicted to have lowered the manufacturing volumes by simply 2% in first quarter.
As a consequence of unplanned outage, administration expects its manufacturing to be practically 640,000 barrels of oil equal (Boe) per day (48% oil). The Zacks Consensus Estimate is pegged at 641,220 Boe per day. The corporate has efficiently restored the affected manufacturing throughout all its working areas. It expects weather-related downtime to not have any affect on deliberate 2024 manufacturing volumes.
Secure free money movement era is predicted to have continued within the first quarter as properly, which assisted in rising shareholders worth. The continued share repurchases have lowered shares excellent degree of the corporate, which is more likely to have had a optimistic affect on first-quarter earnings.
Shares to Think about
Traders can contemplate the next gamers from the identical sector that, per our mannequin, have the fitting mixture of components to beat on earnings this reporting cycle.
ConocoPhillips COP is more likely to ship an earnings shock when it posts first-quarter outcomes on Could 2, 2024. COP has an Earnings ESP of +2.85% and a Zacks Rank #2. You may see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for COP’s first-quarter 2024 earnings has gone up 1.9% within the final 30 days.
EOG Sources EOG is more likely to ship an earnings shock when it posts first-quarter numbers on Could 3, 2024. EOG has an Earnings ESP of +0.95% and a Zacks Rank #2.
The Zacks Consensus Estimate for EOG’s first-quarter 2024 earnings implies a rise of three.4% within the final 30 days.
PBF Vitality Inc. PBF is more likely to ship an earnings shock when it posts first-quarter figures on Could 2, 2024. PBF has an Earnings ESP of +14.1% and a Zacks Rank #2.
The Zacks Consensus Estimate for PBF’s first-quarter 2024 earnings implies a rise of seven.8% within the final 30 days.
Keep on high of upcoming earnings bulletins with the Zacks Earnings Calendar.
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Free: See Our Top Stock And 4 Runners Up
Devon Energy Corporation (DVN) : Free Stock Analysis Report
ConocoPhillips (COP) : Free Stock Analysis Report
EOG Resources, Inc. (EOG) : Free Stock Analysis Report
PBF Energy Inc. (PBF) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
