PDC Energy, Inc. (PDCE) Expected to Post Quarterly Sales of $215.00 Million
Equities research analysts expect PDC Energy, Inc. (NASDAQ:PDCE) to announce sales of $215.00 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for PDC Energy’s earnings, with the lowest sales estimate coming in at $202.13 million and the highest estimate coming in at $228.30 million. PDC Energy reported sales of $20.10 million during the same quarter last year, which indicates a positive year over year growth rate of 969.7%. The firm is scheduled to report its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that PDC Energy will report full year sales of $215.00 million for the current year, with estimates ranging from $894.81 million to $1.06 billion. For the next year, analysts forecast that the firm will post sales of $1.26 billion per share, with estimates ranging from $999.50 million to $1.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for PDC Energy.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Friday, May 5th. The energy producer reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.03. The firm had revenue of $273.70 million during the quarter, compared to the consensus estimate of $182.05 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. The firm’s quarterly revenue was up 201.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.89) earnings per share.
Several brokerages recently weighed in on PDCE. UBS AG began coverage on shares of PDC Energy in a research note on Thursday, March 23rd. They issued a “neutral” rating and a $70.00 price objective on the stock. BMO Capital Markets boosted their price objective on shares of PDC Energy from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, July 14th. Bank of America Corporation began coverage on shares of PDC Energy in a research note on Wednesday. They issued a “buy” rating and a $60.00 price objective on the stock. Scotiabank reissued a “hold” rating and issued a $60.00 price objective on shares of PDC Energy in a research note on Friday, June 30th. Finally, Zacks Investment Research cut shares of PDC Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 8th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $74.00.
PDC Energy (PDCE) traded down 0.37% on Thursday, hitting $45.71. The stock had a trading volume of 288,887 shares. The company has a 50 day moving average of $44.83 and a 200 day moving average of $59.81. The company’s market capitalization is $2.98 billion. PDC Energy has a 12-month low of $40.12 and a 12-month high of $84.88.
Several institutional investors have recently bought and sold shares of PDCE. Flinton Capital Management LLC raised its position in PDC Energy by 19.8% in the first quarter. Flinton Capital Management LLC now owns 1,744 shares of the energy producer’s stock worth $109,000 after buying an additional 288 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of PDC Energy by 27.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock worth $109,000 after buying an additional 547 shares in the last quarter. Invictus RG raised its position in shares of PDC Energy by 11.2% in the first quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock worth $134,000 after buying an additional 216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PDC Energy by 42.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,186 shares of the energy producer’s stock worth $136,000 after buying an additional 649 shares in the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in PDC Energy during the first quarter valued at approximately $147,000.
PDC Energy Company Profile
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PDC Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.