In the latest trading session, PDC Energy closed at $60.97, marking a -1.61% move from the previous day. This change lagged the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the independent oil and gas company had lost 2.75% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 gained 1.44%.
PDC Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2022. In that report, analysts expect PDC Energy to post earnings of $4.57 per share. This would mark year-over-year growth of 175.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.1 billion, up 104.17% from the year-ago period.
PDCE's full-year Zacks Consensus Estimates are calling for earnings of $16.97 per share and revenue of $4.19 billion. These results would represent year-over-year changes of +112.39% and +75.76%, respectively.
Investors should also note any recent changes to analyst estimates for PDC Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 9.36% lower. PDC Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that PDC Energy has a Forward P/E ratio of 3.65 right now. This represents a discount compared to its industry's average Forward P/E of 4.66.
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 15, 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.
To follow PDCE in the coming trading sessions, be sure to utilize Zacks.com.
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PDC Energy (PDCE) Dips More Than Broader Markets: What You Should Know
In the latest trading session, PDC Energy closed at $60.97, marking a -1.61% move from the previous day. This change lagged the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the independent oil and gas company had lost 2.75% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 gained 1.44%.
PDC Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2022. In that report, analysts expect PDC Energy to post earnings of $4.57 per share. This would mark year-over-year growth of 175.3%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.1 billion, up 104.17% from the year-ago period.
PDCE's full-year Zacks Consensus Estimates are calling for earnings of $16.97 per share and revenue of $4.19 billion. These results would represent year-over-year changes of +112.39% and +75.76%, respectively.
Investors should also note any recent changes to analyst estimates for PDC Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 9.36% lower. PDC Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that PDC Energy has a Forward P/E ratio of 3.65 right now. This represents a discount compared to its industry's average Forward P/E of 4.66.
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 15, 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.
To follow PDCE in the coming trading sessions, be sure to utilize Zacks.com.