Research Analysts Issue Forecasts for PDC Energy, Inc.’s Q3 2017 Earnings (PDCE)
PDC Energy, Inc. (NASDAQ:PDCE) – Equities research analysts at Seaport Global Securities increased their Q3 2017 earnings per share (EPS) estimates for PDC Energy in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the energy producer will earn $0.09 per share for the quarter, up from their prior forecast of ($0.02). Seaport Global Securities currently has a “Buy” rating and a $51.00 target price on the stock. Seaport Global Securities also issued estimates for PDC Energy’s Q4 2017 earnings at ($0.05) EPS and FY2017 earnings at $0.17 EPS.
Several other equities research analysts have also weighed in on the company. Williams Capital lifted their price objective on PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Stifel Nicolaus lifted their price objective on PDC Energy from $69.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Barclays PLC lifted their price objective on PDC Energy from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. BMO Capital Markets set a $53.00 price objective on PDC Energy and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, Jefferies Group LLC began coverage on PDC Energy in a report on Monday, October 9th. They issued a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.41.
Shares of PDC Energy (PDCE) opened at 45.92 on Wednesday. The stock has a 50 day moving average of $46.30 and a 200-day moving average of $47.35. The company has a market cap of $3.00 billion, a PE ratio of 325.67 and a beta of 0.84. PDC Energy has a 12 month low of $36.74 and a 12 month high of $84.88.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.20. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. PDC Energy’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PDC Energy by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 209 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of PDC Energy during the 2nd quarter valued at about $107,000. Integrated Investment Consultants LLC boosted its position in shares of PDC Energy by 27.7% during the 2nd quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock valued at $109,000 after acquiring an additional 547 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of PDC Energy by 67.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Invictus RG boosted its position in shares of PDC Energy by 11.2% during the 1st quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock valued at $134,000 after acquiring an additional 216 shares during the last quarter.
In other news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.
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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