PDC Energy (PDCE) Update - Nov 20

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Zacks Equity Research
Stock to Watch: PDC Energy (PDCE)

PDC Energy, Inc. is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. Headquartered in Denver, CO, the firm is focused on the Wattenberg Field in Colorado and the Delaware Basin in Texas. PDC Energy’s Wattenberg operations are centered around the Niobrara and Codell formations, while the Delaware Basin development primarily targets the Wolfcamp zones. The company, which reached its present form following the January 2020 combination with SRC Energy, is currently the second-largest producer in the Denver-Julesburg (‘DJ’) Basin behind Occidental Petroleum.

PDCE is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. PDCE has a Growth Style Score of B, forecasting year-over-year earnings growth of 275.9% for the current fiscal year.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2021. The Zacks Consensus Estimate has increased $1.64 to $7.63 per share. PDCE boasts an average earnings surprise of 51.1%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PDCE should be on investors' short list.