The most recent trading session ended with Diversified Energy Company PLC (DEC) standing at $13.26, reflecting a +1.22% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 3.26%. At the same time, the Dow added 2.81%, and the tech-heavy Nasdaq gained 4.35%.
Heading into today, shares of the gas and oil production company had gained 17.17% over the past month, outpacing the Oils-Energy sector's gain of 3.28% and the S&P 500's gain of 3.78% in that time.
Market participants will be closely following the financial results of Diversified Energy Company PLC in its upcoming release.
For the full year, the Zacks Consensus Estimates project earnings of $3.44 per share and a revenue of $1.68 billion, demonstrating changes of +76.41% and +93.55%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Diversified Energy Company PLC. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.3% higher. Currently, Diversified Energy Company PLC is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Diversified Energy Company PLC is currently exchanging hands at a Forward P/E ratio of 3.81. This expresses a discount compared to the average Forward P/E of 18.94 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Diversified Energy Company PLC (DEC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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