-$0.01 EPS Expected for PDC Energy, Inc. (PDCE) This Quarter
Equities analysts predict that PDC Energy, Inc. (NASDAQ:PDCE) will announce earnings per share (EPS) of ($0.01) for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for PDC Energy’s earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at $0.11. PDC Energy reported earnings per share of ($0.11) in the same quarter last year, which would indicate a positive year over year growth rate of 90.9%. The business is expected to report its next earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that PDC Energy will report full-year earnings of $0.10 per share for the current year, with EPS estimates ranging from ($0.53) to $0.60. For the next fiscal year, analysts anticipate that the company will report earnings of $0.57 per share, with EPS estimates ranging from ($0.96) to $2.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for PDC Energy.
PDC Energy (NASDAQ:PDCE) last issued its earnings results on Friday, May 5th. The energy producer reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. PDC Energy had a negative return on equity of 0.20% and a negative net margin of 22.67%. The firm had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same period last year, the firm earned ($0.89) earnings per share. PDC Energy’s revenue for the quarter was up 201.4% on a year-over-year basis.
Several equities research analysts have issued reports on PDCE shares. Williams Capital reaffirmed a “buy” rating and set a $94.00 price target on shares of PDC Energy in a research note on Monday, April 10th. Zacks Investment Research cut shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Barclays PLC reaffirmed a “buy” rating and set a $80.00 price target (down from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target on shares of PDC Energy in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $82.00 price target on shares of PDC Energy in a research note on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $74.00.
Shares of PDC Energy (NASDAQ PDCE) traded down 2.57% during trading on Monday, reaching $45.07. 2,092,617 shares of the company’s stock were exchanged. The stock’s market capitalization is $2.94 billion. PDC Energy has a 52 week low of $40.12 and a 52 week high of $84.88. The stock has a 50 day moving average price of $44.58 and a 200-day moving average price of $57.92.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in PDC Energy by 4.7% in the first quarter. FMR LLC now owns 7,431,171 shares of the energy producer’s stock valued at $463,333,000 after buying an additional 330,814 shares during the last quarter. BlackRock Inc. raised its position in PDC Energy by 47,702.8% in the first quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock valued at $429,640,000 after buying an additional 6,876,357 shares during the last quarter. Vanguard Group Inc. raised its position in PDC Energy by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,001,093 shares of the energy producer’s stock valued at $311,818,000 after buying an additional 203,524 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PDC Energy by 17.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,385,502 shares of the energy producer’s stock valued at $211,083,000 after buying an additional 501,484 shares during the last quarter. Finally, Causeway Capital Management LLC raised its position in PDC Energy by 54.1% in the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock valued at $234,496,000 after buying an additional 1,154,136 shares during the last quarter.
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About PDC Energy
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.
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