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

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PDC Energy (PDCE) closed at $54.88 in the latest trading session, marking a +0.59% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq gained 0.23%.

Coming into today, shares of the independent oil and gas company had gained 12.49% in the past month. In that same time, the Oils-Energy sector gained 14.52%, while the S&P 500 lost 0.78%.

PDC Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect PDC Energy to post earnings of $2.43 per share. This would mark year-over-year growth of 120.91%. Our most recent consensus estimate is calling for quarterly revenue of $690.7 million, up 147.95% from the year-ago period.

Investors should also note any recent changes to analyst estimates for PDC Energy. 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 0.69% lower. PDC Energy is currently a Zacks Rank #3 (Hold).

In terms of valuation, PDC Energy is currently trading at a Forward P/E ratio of 5.43. For comparison, its industry has an average Forward P/E of 6.23, 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 181, which puts it in the bottom 30% 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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