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

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In the latest trading session, PDC Energy (PDCE - Free Report) closed at $55.23, marking a -0.5% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.14%.

Coming into today, shares of the independent oil and gas company had gained 16.15% in the past month. In that same time, the Oils-Energy sector gained 7.1%, while the S&P 500 gained 0.12%.

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 $2.42, up 120% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $695.2 million, up 149.57% from the prior-year quarter.

Any recent changes to analyst estimates for PDC Energy should also be noted by investors. 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. 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 0.54% higher within the past month. PDC Energy currently has a Zacks Rank of #3 (Hold).

Investors should also note PDC Energy's current valuation metrics, including its Forward P/E ratio of 5.45. For comparison, its industry has an average Forward P/E of 6.12, 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 211, which puts it in the bottom 18% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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