Petroleum Development First Quarter Earnings Sneak Peek

Petroleum Development Corporation (NASDAQ:PETD) will unveil its latest earnings on Thursday, May 10, 2012. Petroleum Development Corporation is an independent energy company engaged in the exploration, development, production, and marketing of oil and natural gas.

Petroleum Development Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 26 cents per share, a rise of more than fourfold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 4 cents. Between one and three months ago, the average estimate moved up. It has risen from 22 cents during the last month. Analysts are projecting profit to rise by 375% compared to last year’s 95 cents.

Past Earnings Performance: Last quarter, the company fell short of estimates by 26 cents, coming in at net income of 11 cents per share against a mean estimate of profit of 20 cents. The company topped expectations in the third quarter of the last fiscal year.

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Wall St. Revenue Expectations: On average, analysts predict $105.3 million in revenue this quarter, a rise of 84.4% from the year-ago quarter. Analysts are forecasting total revenue of $426.5 million for the year, a rise of 7.7% from last year’s revenue of $396 million.

Analyst Ratings: Analysts are bullish on this stock, with 11 analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, the company’s loss narrowed to a loss of $8.4 million (36 cents a share) from a loss of $18.1 million (95 cents) a year earlier, but missed analyst expectations. Revenue rose 9.4% to $77.7 million from $71.1 million.

Key Stats:

On the top line, the company is looking to build on three-straight revenue increases heading into this earnings announcement. Revenue increased 44.8% in the second quarter of the last fiscal year and 43.3% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between March 8, 2012 and May 4, 2012, the stock price had fallen $5.17 (-14.2%), from $36.53 to $31.36. The stock price saw one of its best stretches over the last year between January 31, 2012 and February 9, 2012, when shares rose for eight straight days, increasing 9.6% (+$2.99) over that span. It saw one of its worst periods between July 26, 2011 and August 10, 2011 when shares fell for 12 straight days, dropping 39.9% (-$15.63) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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