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Gauging Devon Energy’s 3-Year-High Potential in 4Q17

PART:
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Part 2
Gauging Devon Energy’s 3-Year-High Potential in 4Q17 PART 2 OF 6

Where Devon Energy’s Revenue Growth Stands among Its S&P 500 Peers

DVN’s 4Q17 revenue growth estimates

For 4Q17, Wall Street analysts expect Devon Energy (DVN) to report revenues of ~$3.5 billion. On a YoY (year-over-year) basis, this revenue expectation is ~25% higher than its 4Q16 revenues of ~$2.8 billion. Sequentially, Devon Energy’s 4Q17 revenue expectation is ~6% higher than its 3Q17 revenues of ~$3.3 billion.

Where Devon Energy’s Revenue Growth Stands among Its S&amp;P 500 Peers

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The strong YoY increase in Devon Energy’s 4Q17 production as well as the higher realized prices for crude oil (USO), natural gas (UNG), and natural gas liquids are expected to impact DVN’s revenues positively. (We’ll assess DVN’s production in the next part of this series.)

According to Reuters, for 4Q17, the components of the S&P 500 Index (SPY) are expected to report blended revenue growth of almost 8% when compared with that of 4Q16. With its YoY estimated blended revenue growth of ~20% in 4Q17, the energy sector is expected to drive the S&P 500’s revenue growth in 4Q17.

Excluding the energy sector, the blended revenue growth for the S&P 500 is estimated to be ~7%. DVN’s revenue growth is thus outperforming the energy sector as well as the S&P 500.

Devon Energy’s 2017 revenues estimates

For fiscal 2017, Wall Street analysts expect Devon Energy to report revenues of ~$13.4 billion, which would be ~30% higher than its revenues of ~$10.3 billion in 2016.

By comparison, peer Occidental Petroleum (OXY) is expected to report revenues ~$12.8 billion, which would be ~23% higher than its revenues of ~$10.4 billion in 2016.

In the next part, we’ll take a look at Devon Energy’s 4Q17 and 2017 production guidance.

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