PDC Energy (PDCE) closed at $58.82 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.54%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the independent oil and gas company had gained 14.6% over the past month. This has outpaced the Oils-Energy sector's gain of 10.99% and the S&P 500's loss of 7.87% in that time.
Investors will be hoping for strength from PDC Energy as it approaches its next earnings release. In that report, analysts expect PDC Energy to post earnings of $2.45 per share. This would mark year-over-year growth of 122.73%. Meanwhile, our latest consensus estimate is calling for revenue of $695.45 million, up 149.66% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for PDC Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 4.21% higher within the past month. PDC Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PDC Energy has a Forward P/E ratio of 5.47 right now. This represents a discount compared to its industry's average Forward P/E of 5.6.
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 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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