Is PDC Energy (PDCE) Stock Outpacing Its Oils-Energy Peers This Year?

In this article:

Investors focused on the Oils-Energy space have likely heard of PDC Energy (PDCE), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.

PDC Energy is one of 251 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PDCE is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for PDCE's full-year earnings has moved 42.74% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, PDCE has moved about 89.43% on a year-to-date basis. In comparison, Oils-Energy companies have returned an average of 19.59%. This means that PDC Energy is performing better than its sector in terms of year-to-date returns.

Looking more specifically, PDCE belongs to the Oil and Gas - Exploration and Production - United States industry, which includes 45 individual stocks and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 71.33% so far this year, meaning that PDCE is performing better in terms of year-to-date returns.

PDCE will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
PDC Energy, Inc. (PDCE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Advertisement