PDC Energy, Inc. (NASDAQ:PDCE) announced its earnings results on Tuesday. The energy producer reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.20, MarketWatch Earnings reports. The company had revenue of $275.20 million during the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. The firm’s revenue for the quarter was up 1269.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share.

Shares of PDC Energy (NASDAQ:PDCE) opened at 39.70 on Wednesday. The stock’s market capitalization is $2.59 billion. The company has a 50-day moving average of $44.44 and a 200-day moving average of $57.65. PDC Energy has a 52 week low of $38.54 and a 52 week high of $84.88.

Several equities analysts recently weighed in on PDCE shares. BidaskClub upgraded shares of PDC Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Williams Capital reduced their price target on shares of PDC Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Credit Suisse Group lowered shares of PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 price target for the company. in a research report on Thursday, June 1st. Royal Bank Of Canada reduced their price target on shares of PDC Energy from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, May 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 price target on shares of PDC Energy in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.05.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Miller Howard Investments Inc. NY increased its position in PDC Energy by 30.9% in the first quarter. Miller Howard Investments Inc. NY now owns 109,895 shares of the energy producer’s stock valued at $6,852,000 after buying an additional 25,932 shares during the last quarter. Dubuque Bank & Trust Co. acquired a new position in PDC Energy during the first quarter valued at $147,000. Glen Harbor Capital Management LLC increased its position in PDC Energy by 19.8% in the first quarter. Glen Harbor Capital Management LLC now owns 3,052 shares of the energy producer’s stock valued at $190,000 after buying an additional 504 shares during the last quarter. Retirement Systems of Alabama acquired a new position in PDC Energy during the first quarter valued at $1,952,000. Finally, State of Alaska Department of Revenue increased its position in PDC Energy by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 6,200 shares of the energy producer’s stock valued at $386,000 after buying an additional 160 shares during the last quarter.

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.

Earnings History for PDC Energy (NASDAQ:PDCE)

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