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PDC Energy (PDCE) Gains As Market Dips: What You Should Know

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PDC Energy (PDCE - Free Report) closed the most recent trading day at $53.97, moving +1.58% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.1%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.47%.

Prior to today's trading, shares of the independent oil and gas company had gained 0.23% over the past month. This has lagged the Oils-Energy sector's gain of 4.92% and the S&P 500's gain of 3.67% in that time.

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 $2.43, up 120.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $694.98 million, up 149.49% from the year-ago period.

Any recent changes to analyst estimates for PDC Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.96% higher within the past month. PDC Energy is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, PDC Energy is currently trading at a Forward P/E ratio of 5.25. This valuation marks a discount compared to its industry's average Forward P/E of 5.91.

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 172, putting it in the bottom 33% 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.

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