PDC Energy Inc (PDCE) to Post Q1 2018 Earnings of $0.33 Per Share, KeyCorp Forecasts

PDC Energy Inc (NASDAQ:PDCE) – Investment analysts at KeyCorp increased their Q1 2018 EPS estimates for shares of PDC Energy in a research note issued on Sunday. KeyCorp analyst D. Deckelbaum now expects that the energy producer will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.32. KeyCorp currently has a “Buy” rating and a $65.00 target price on the stock. KeyCorp also issued estimates for PDC Energy’s Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $1.19 EPS and FY2019 earnings at $3.91 EPS.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $81.00 target price (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. SunTrust Banks set a $55.00 price target on shares of PDC Energy and gave the stock a “buy” rating in a research report on Sunday, October 29th. Mizuho reaffirmed a “buy” rating and issued a $55.00 price target on shares of PDC Energy in a research report on Friday, October 27th. Williams Capital upped their price target on shares of PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Jefferies Group began coverage on shares of PDC Energy in a research report on Monday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.37.

PDC Energy (PDCE) opened at $56.23 on Tuesday. 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 cap of $3,621.03, a PE ratio of -13.85 and a beta of 0.79. PDC Energy has a one year low of $36.74 and a one year high of $78.61.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Monday, November 6th. The energy producer reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.06. PDC Energy had a negative net margin of 29.31% and a positive return on equity of 0.94%.

In related news, Director Jeffrey C. Swoveland sold 1,700 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total transaction of $94,911.00. Following the completion of the sale, the director now owns 21,519 shares of the company’s stock, valued at $1,201,405.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total transaction of $55,830.00. Following the sale, the chief operating officer now directly owns 62,338 shares of the company’s stock, valued at approximately $3,480,330.54. The disclosure for this sale can be found here. Insiders have sold 5,700 shares of company stock valued at $308,961 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of PDC Energy by 8.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 380,638 shares of the energy producer’s stock worth $19,619,000 after buying an additional 30,136 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of PDC Energy by 6.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the energy producer’s stock worth $1,459,000 after buying an additional 1,600 shares during the last quarter. Gofen & Glossberg LLC IL purchased a new position in shares of PDC Energy in the fourth quarter worth $340,000. National Investment Services Inc. WI raised its holdings in shares of PDC Energy by 70.7% in the fourth quarter. National Investment Services Inc. WI now owns 7,186 shares of the energy producer’s stock worth $370,000 after buying an additional 2,977 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its holdings in shares of PDC Energy by 18.7% in the third quarter. Piedmont Investment Advisors LLC now owns 14,351 shares of the energy producer’s stock worth $704,000 after buying an additional 2,265 shares during the last quarter.

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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.

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

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