Petroleum Development Corp Third Quarter Earnings Sneak Peek

Petroleum Development Corp (NASDAQ:PETD) will unveil its latest earnings on Thursday, November 3, 2011. Petroleum Development Corporation is an independent energy company engaged in the exploration, development, production, and marketing of oil and natural gas (NYSE:UNG).

Petroleum Development Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 2 cents per share, a swing from a loss of 10 cents in the year earlier quarter. During the past three months, the average estimate has moved down from 5 cents. Between one and three months ago, the average estimate moved down. It has risen from breaking even during the last month. Analysts are projecting net loss of 27 cents per share versus net income of 2 cents last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the second quarter, it reported a loss of 10 cents per share against a mean estimate of 3 cents. Two quarters ago, it beat expectations by 2 cents with profit of 6 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of more than twofold in revenue from the year-earlier quarter to $100.4 million.

Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, none rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, the company swung to a profit of $9.2 million (39 cents a share) from a loss of $2.7 million (15 cents) a year earlier, but missed analyst estimates. Revenue rose 44.8% to $92.9 million from $64.2 million.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of two consecutive quarters of revenue declines. Revenue fell 7.5% in the first quarter and 3.9% in the fourth quarter of the last fiscal year.

Petroleum Development’s profit last quarter followed losses in the previous two quarters. The company reported a loss of $19.9 million in the first quarter and a loss of $18.1 million in the fourth quarter of the last fiscal year.

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 September 30, 2011 to October 28, 2011, the stock price had risen $8.65 (44.6%) from $19.39 to $28.04. It saw one of its worst periods between July 26, 2011 and August 10, 2011 when shares fell for 12-straight days, falling 39.9% (-$15.63) over that span. The stock price saw one of its best stretches over the last year between October 17, 2011 and October 24, 2011 when shares rose for six-straight days, rising 18.7% (+$3.99) over that span. Shares are down $14.21 (-33.6%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.