In the latest trading session, PDC Energy closed at $61.27, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.4%.
Coming into today, shares of the independent oil and gas company had lost 25.72% in the past month. In that same time, the Oils-Energy sector lost 14.41%, while the S&P 500 lost 8.3%.
Investors will be hoping for strength from PDC Energy as it approaches its next earnings release. In that report, analysts expect PDC Energy to post earnings of $3.19 per share. This would mark year-over-year growth of 92.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, up 106.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.73 per share and revenue of $4.34 billion, which would represent changes of +134.42% and +82.38%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 4.31% higher. PDC Energy currently has a Zacks Rank of #2 (Buy).
Investors should also note PDC Energy's current valuation metrics, including its Forward P/E ratio of 3.29. This represents a discount compared to its industry's average Forward P/E of 4.14.
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 27, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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In the latest trading session, PDC Energy closed at $61.27, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.4%.
Coming into today, shares of the independent oil and gas company had lost 25.72% in the past month. In that same time, the Oils-Energy sector lost 14.41%, while the S&P 500 lost 8.3%.
Investors will be hoping for strength from PDC Energy as it approaches its next earnings release. In that report, analysts expect PDC Energy to post earnings of $3.19 per share. This would mark year-over-year growth of 92.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, up 106.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.73 per share and revenue of $4.34 billion, which would represent changes of +134.42% and +82.38%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 4.31% higher. PDC Energy currently has a Zacks Rank of #2 (Buy).
Investors should also note PDC Energy's current valuation metrics, including its Forward P/E ratio of 3.29. This represents a discount compared to its industry's average Forward P/E of 4.14.
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 27, which puts it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>