Analysts Anticipate PDC Energy, Inc. (PDCE) Will Post Quarterly Sales of $231.36 Million
Equities analysts expect PDC Energy, Inc. (NASDAQ:PDCE) to post sales of $231.36 million for the current quarter, according to Zacks. Six analysts have issued estimates for PDC Energy’s earnings. The lowest sales estimate is $219.10 million and the highest is $240.00 million. PDC Energy posted sales of $163.89 million during the same quarter last year, which suggests a positive year-over-year growth rate of 41.2%. The business is expected to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that PDC Energy will report full-year sales of $231.36 million for the current fiscal year, with estimates ranging from $870.60 million to $1.05 billion. For the next year, analysts forecast that the firm will report sales of $1.11 billion per share, with estimates ranging from $982.20 million to $1.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover PDC Energy.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.20. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The business had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. During the same quarter last year, the firm earned ($0.11) EPS. PDC Energy’s quarterly revenue was up 1269.2% compared to the same quarter last year.
A number of analysts have weighed in on the stock. Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $51.00 in a research report on Friday, August 11th. Mizuho raised shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $55.00 in a research report on Wednesday, August 9th. Imperial Capital assumed coverage on shares of PDC Energy in a research report on Friday, August 18th. They set an “outperform” rating and a $66.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $76.00 target price on shares of PDC Energy in a research report on Wednesday, August 16th. Finally, Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of PDC Energy in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. PDC Energy currently has a consensus rating of “Hold” and a consensus target price of $71.14.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in shares of PDC Energy by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock worth $5,591,000 after purchasing an additional 10,360 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of PDC Energy by 5.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 31,760 shares of the energy producer’s stock worth $1,980,000 after purchasing an additional 1,750 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of PDC Energy by 37.5% in the 1st quarter. Pacer Advisors Inc. now owns 6,430 shares of the energy producer’s stock worth $401,000 after purchasing an additional 1,755 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of PDC Energy by 0.5% in the 1st quarter. Prudential Financial Inc. now owns 96,434 shares of the energy producer’s stock worth $6,013,000 after purchasing an additional 518 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in PDC Energy by 12.7% during the 1st quarter. Systematic Financial Management LP now owns 530,883 shares of the energy producer’s stock valued at $33,101,000 after acquiring an additional 59,999 shares in the last quarter.
PDC Energy (PDCE) opened at 43.61 on Friday. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 309.29 and a beta of 0.83. The company’s 50-day moving average is $41.15 and its 200 day moving average is $50.87.
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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.
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