PDC Energy closed the most recent trading day at $61.59, moving -1.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Prior to today's trading, shares of the independent oil and gas company had gained 12.85% over the past month. This has outpaced the Oils-Energy sector's gain of 11.08% and the S&P 500's loss of 4.63% 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 $2.44 per share, which would represent year-over-year growth of 121.82%. Our most recent consensus estimate is calling for quarterly revenue of $695.7 million, up 149.75% from the year-ago period.
Any recent changes to analyst estimates for PDC Energy should also be noted by investors. 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 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. Within the past 30 days, our consensus EPS projection has moved 3.77% higher. 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 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 6.12.
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 71, putting it in the top 28% 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.
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) Stock Sinks As Market Gains: What You Should Know
PDC Energy closed the most recent trading day at $61.59, moving -1.49% from the previous trading session. This move lagged the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Prior to today's trading, shares of the independent oil and gas company had gained 12.85% over the past month. This has outpaced the Oils-Energy sector's gain of 11.08% and the S&P 500's loss of 4.63% 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 $2.44 per share, which would represent year-over-year growth of 121.82%. Our most recent consensus estimate is calling for quarterly revenue of $695.7 million, up 149.75% from the year-ago period.
Any recent changes to analyst estimates for PDC Energy should also be noted by investors. 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 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. Within the past 30 days, our consensus EPS projection has moved 3.77% higher. 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 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 6.12.
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 71, putting it in the top 28% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.