Odds of beating earnings estimates
Devon Energy (DVN) beat consensus EPS estimates in Q2 2017 and Q3 2017 but missed consensus EPS estimate in Q4 2017 before meeting EPS estimates in Q1 2018. So, in the last four quarters, DVN beat consensus EPS estimates 50% of the time, missed consensus EPS estimates 25% of the time, and met consensus EPS estimates 25% of the time.
Other oil and gas producers
How DVN stock reacted to Q1 2018 earnings
Devon Energy announced its Q1 2018 earnings on May 1 after the market closed. The company reported revenues of ~$3.81 billion, lower than the Wall Street analyst consensus of ~$3.89 billion. However, DVN met EPS estimates of $0.20 in Q1 2018.
Following the earnings release, Devon Energy’s stock price increased from $36.13 to $42.25 over three weeks.
DVN’s year-to-date performance
Year-to-date in 2018, DVN is among the positively performing upstream companies with a ~7% return. However, DVN is underperforming the SPDR S&P Oil and Gas Exploration & Production ETF (XOP), which represents an index of stocks across the energy industry. XOP has ~81% exposure to the Oil and Gas Exploration & Production industry. XOP is up ~14% in 2018. To learn more about the best upstream stock performers in 2018, check out the Market Realist series How Is the Energy Sector Performing in 2018?