PDC Energy closed the most recent trading day at $66.05, moving -1.2% from the previous trading session. This change lagged the S&P 500's 0.74% loss on the day.
Heading into today, shares of the independent oil and gas company had gained 14.33% over the past month, outpacing the Oils-Energy sector's gain of 3.65% and the S&P 500's loss of 4.6% in that time.
Investors will be hoping for strength from PDC Energy as it approaches its next earnings release. On that day, PDC Energy is projected to report earnings of $2.87 per share, which would represent year-over-year growth of 103.55%. Meanwhile, our latest consensus estimate is calling for revenue of $693.75 million, up 142.54% from the prior-year quarter.
PDCE's full-year Zacks Consensus Estimates are calling for earnings of $13.32 per share and revenue of $3.35 billion. These results would represent year-over-year changes of +66.71% and +40.77%, respectively.
It is also important to note the recent changes to analyst estimates for PDC Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 29.01% higher within the past month. PDC Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, PDC Energy is currently trading at a Forward P/E ratio of 5.02. Its industry sports an average Forward P/E of 6.54, so we one might conclude that PDC Energy is trading at a discount comparatively.
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 64, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Image: Bigstock
PDC Energy (PDCE) Dips More Than Broader Markets: What You Should Know
PDC Energy closed the most recent trading day at $66.05, moving -1.2% from the previous trading session. This change lagged the S&P 500's 0.74% loss on the day.
Heading into today, shares of the independent oil and gas company had gained 14.33% over the past month, outpacing the Oils-Energy sector's gain of 3.65% and the S&P 500's loss of 4.6% in that time.
Investors will be hoping for strength from PDC Energy as it approaches its next earnings release. On that day, PDC Energy is projected to report earnings of $2.87 per share, which would represent year-over-year growth of 103.55%. Meanwhile, our latest consensus estimate is calling for revenue of $693.75 million, up 142.54% from the prior-year quarter.
PDCE's full-year Zacks Consensus Estimates are calling for earnings of $13.32 per share and revenue of $3.35 billion. These results would represent year-over-year changes of +66.71% and +40.77%, respectively.
It is also important to note the recent changes to analyst estimates for PDC Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 29.01% higher within the past month. PDC Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, PDC Energy is currently trading at a Forward P/E ratio of 5.02. Its industry sports an average Forward P/E of 6.54, so we one might conclude that PDC Energy is trading at a discount comparatively.
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 64, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.