Petroleum Development Corp Second Quarter Earnings Sneak Peek

Petroleum Development Corp (NASDAQ:PETD) will unveil its latest earnings on Thursday, August 4, 2011. Petroleum Development Corporation is an independent energy company engaged in the exploration, development, production and marketing of oil and natural gas.

Petroleum Development Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 2 cents per share, a swing from net loss of 16 cents in the year earlier quarter. During the past three months, the average estimate has moved down from 8 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 2 cents during the last month. For the year, analysts are projecting a loss of one cent per share, a swing from profit of 2 cents last year.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported net income of 6 cents per share versus a mean estimate of profit of 4 cents per share. In the fourth quarter of the last fiscal year, the company missed estimates by 16 cents.

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Wall St. Revenue Expectations: On average, analysts predict $91.9 million in revenue this quarter, a rise of 86.1% from the year ago quarter. Analysts are forecasting total revenue of $350.1 million for the year, a rise of 67% from last year’s revenue of $209.6 million.

Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, none rating it as a sell and three rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter, revenue declined 7.5% to $81 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 3.9%.

Competitors to Watch: Pinnacle Gas Resources, Inc. (PINN), Questar Corporation (NYSE:STR), BreitBurn Energy Partners L.P. (NASDAQ:BBEP), Legacy Reserves LP (NASDAQ:LGCY), PostRock Energy Corp. (NASDAQ:PSTR), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), Pioneer Southwest Energy Partners L.P. (NYSE:PSE), and NGAS Resources, Inc. (NASDAQ:NGAS).

Stock Price Performance: During June 30, 2011 to July 29, 2011, the stock price had risen $6.41 (21.4%) from $29.91 to $36.32. The stock price saw one of its best stretches over the last year between October 28, 2010 and November 8, 2010 when shares rose for eight-straight days, rising 21.7% (+$6.72) over that span. It saw one of its worst periods between May 10, 2011 and May 17, 2011 when shares fell for six-straight days, falling 19.9% (-$7.73) over that span. Shares are down $5.93 (-14%) year to date.

(Source: Xignite Financials)

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