PDC Energy closed the most recent trading day at $77.24, moving +1.81% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.64%.
Heading into today, shares of the independent oil and gas company had gained 9.07% over the past month, outpacing the Oils-Energy sector's gain of 8.86% and the S&P 500's gain of 0.17% in that time.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. This is expected to be May 4, 2022. In that report, analysts expect PDC Energy to post earnings of $3.32 per share. This would mark year-over-year growth of 135.46%. Meanwhile, our latest consensus estimate is calling for revenue of $715.8 million, up 150.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.21 per share and revenue of $3.6 billion, which would represent changes of +102.88% and +51.03%, respectively, from the prior year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.88% higher. PDC Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PDC Energy's current valuation metrics, including its Forward P/E ratio of 4.68. For comparison, its industry has an average Forward P/E of 6.75, which means PDC Energy is trading at a discount to the group.
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 13, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PDC Energy (PDCE) Gains As Market Dips: What You Should Know
PDC Energy closed the most recent trading day at $77.24, moving +1.81% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.64%.
Heading into today, shares of the independent oil and gas company had gained 9.07% over the past month, outpacing the Oils-Energy sector's gain of 8.86% and the S&P 500's gain of 0.17% in that time.
Wall Street will be looking for positivity from PDC Energy as it approaches its next earnings report date. This is expected to be May 4, 2022. In that report, analysts expect PDC Energy to post earnings of $3.32 per share. This would mark year-over-year growth of 135.46%. Meanwhile, our latest consensus estimate is calling for revenue of $715.8 million, up 150.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.21 per share and revenue of $3.6 billion, which would represent changes of +102.88% and +51.03%, respectively, from the prior year.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.88% higher. PDC Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PDC Energy's current valuation metrics, including its Forward P/E ratio of 4.68. For comparison, its industry has an average Forward P/E of 6.75, which means PDC Energy is trading at a discount to the group.
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 13, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.