PDC Energy Blows by Wall Street's Earnings Estimates, Shares Drop Anyway

Shares of oil and gas producer PDC Energy (NASDAQ: PDCE) are down 13.2% as of 10:45 a.m. EDT today. The drop seems to be tied to the company's earnings release, but the release doesn't contain any information that should turn investors away like it has.

Sometimes Wall Street does things that make you scratch your head. Today's stock price drop for PDC is one of them. There isn't much in the most recent earnings result not to like. Oil production is up 29% compared to the prior quarter, per-barrel operating costs are down, and earnings blew by analyst expectations.

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Source: Fool.com