PDC Energy closed at $70.04 in the latest trading session, marking a +1.21% move from the prior day. This move outpaced the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Coming into today, shares of the independent oil and gas company had gained 15.97% in the past month. In that same time, the Oils-Energy sector gained 5.18%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. The company is expected to report EPS of $2.87, up 103.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $693.75 million, up 142.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.32 per share and revenue of $3.35 billion, which would represent changes of +66.71% and +40.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PDC Energy. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.9% higher. PDC Energy currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, PDC Energy is holding a Forward P/E ratio of 5.2. This represents a discount compared to its industry's average Forward P/E of 6.75.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow PDCE in the coming trading sessions, be sure to utilize Zacks.com.
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PDC Energy (PDCE) Gains As Market Dips: What You Should Know
PDC Energy closed at $70.04 in the latest trading session, marking a +1.21% move from the prior day. This move outpaced the S&P 500's daily loss of 0.43%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Coming into today, shares of the independent oil and gas company had gained 15.97% in the past month. In that same time, the Oils-Energy sector gained 5.18%, while the S&P 500 lost 6.57%.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. The company is expected to report EPS of $2.87, up 103.55% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $693.75 million, up 142.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.32 per share and revenue of $3.35 billion, which would represent changes of +66.71% and +40.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PDC Energy. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 28.9% higher. PDC Energy currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, PDC Energy is holding a Forward P/E ratio of 5.2. This represents a discount compared to its industry's average Forward P/E of 6.75.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow PDCE in the coming trading sessions, be sure to utilize Zacks.com.