PDC Energy, Inc. (PDCE - Free Report) is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PDCE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that PDC Energy could be a solid choice for investors.
Current Quarter Estimates for PDCE
In the past 30 days, one estimate has gone higher for PDC Energy while two estimates have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 5 cents a share 30 days ago, to 6 cents today, a move of 20%.
Current Year Estimates for PDCE
Meanwhile, PDC Energy’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 22 cents per share 30 days ago to 29 cents per share today, an increase of 31.8%.
The stock has also started to move higher lately, adding 17.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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