In the latest trading session, PDC Energy closed at $69.69, marking a +1.78% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the independent oil and gas company had gained 23.3% over the past month, outpacing the Oils-Energy sector's gain of 5.36% and the S&P 500's gain of 2.67% in that time.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. On that day, PDC Energy is projected to report earnings of $2.88 per share, which would represent year-over-year growth of 104.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $727.33 million, up 154.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.41 per share and revenue of $3.5 billion, which would represent changes of +67.83% and +46.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PDC Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 29.88% higher within the past month. PDC Energy currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, PDC Energy currently has a Forward P/E ratio of 5.11. This valuation marks a discount compared to its industry's average Forward P/E of 6.35.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.
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PDC Energy (PDCE) Gains As Market Dips: What You Should Know
In the latest trading session, PDC Energy closed at $69.69, marking a +1.78% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the independent oil and gas company had gained 23.3% over the past month, outpacing the Oils-Energy sector's gain of 5.36% and the S&P 500's gain of 2.67% in that time.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. On that day, PDC Energy is projected to report earnings of $2.88 per share, which would represent year-over-year growth of 104.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $727.33 million, up 154.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.41 per share and revenue of $3.5 billion, which would represent changes of +67.83% and +46.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PDC Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 29.88% higher within the past month. PDC Energy currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, PDC Energy currently has a Forward P/E ratio of 5.11. This valuation marks a discount compared to its industry's average Forward P/E of 6.35.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% 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.