PDC Energy Inc (PDCE) Expected to Post Quarterly Sales of $260.88 Million

Equities research analysts expect that PDC Energy Inc (NASDAQ:PDCE) will announce $260.88 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for PDC Energy’s earnings, with the lowest sales estimate coming in at $251.62 million and the highest estimate coming in at $270.60 million. PDC Energy reported sales of $108.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 141.3%. The firm is expected to announce its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that PDC Energy will report full-year sales of $260.88 million for the current financial year, with estimates ranging from $911.00 million to $1.00 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.21 billion per share, with estimates ranging from $1.12 billion to $1.28 billion. Zacks’ sales averages are an average based on a survey of research firms that cover PDC Energy.

Several analysts have recently commented on the stock. Williams Capital decreased their price target on shares of PDC Energy from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, December 12th. BidaskClub raised shares of PDC Energy from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Stifel Nicolaus reduced their price objective on shares of PDC Energy from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, December 13th. Wolfe Research initiated coverage on shares of PDC Energy in a research note on Tuesday, November 14th. They issued a “market perform” rating on the stock. Finally, KeyCorp reissued a “buy” rating and set a $55.00 price target on shares of PDC Energy in a research report on Tuesday, September 26th. Eleven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.60.

PDC Energy (NASDAQ:PDCE) traded down $0.23 on Thursday, hitting $52.62. 673,400 shares of the stock traded hands, compared to its average volume of 689,750. PDC Energy has a twelve month low of $36.74 and a twelve month high of $78.61. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $3,481.38, a PE ratio of -12.96 and a beta of 0.79.

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total value of $78,120.00. Following the completion of the sale, the chief executive officer now owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $49.64, for a total transaction of $49,640.00. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after purchasing an additional 209 shares during the period. Seven Eight Capital LP acquired a new position in shares of PDC Energy in the 2nd quarter valued at approximately $107,000. Flinton Capital Management LLC raised its position in shares of PDC Energy by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares in the last quarter. Connable Office Inc. acquired a new position in shares of PDC Energy in the 3rd quarter valued at approximately $202,000. Finally, World Asset Management Inc acquired a new position in shares of PDC Energy in the 3rd quarter valued at approximately $216,000.

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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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Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

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