Brokerages Anticipate PDC Energy Inc (PDCE) Will Announce Quarterly Sales of $263.57 Million

Wall Street analysts forecast that PDC Energy Inc (NASDAQ:PDCE) will report $263.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PDC Energy’s earnings, with the highest sales estimate coming in at $268.00 million and the lowest estimate coming in at $257.27 million. PDC Energy posted sales of $108.10 million during the same quarter last year, which would indicate a positive year over year growth rate of 143.8%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, February 26th.

According to Zacks, analysts expect that PDC Energy will report full-year sales of $263.57 million for the current year, with estimates ranging from $909.50 million to $1.00 billion. For the next financial year, analysts expect that the firm will report sales of $1.24 billion per share, with estimates ranging from $1.12 billion to $1.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for PDC Energy.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Monday, November 6th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. PDC Energy had a positive return on equity of 0.94% and a negative net margin of 29.31%. The company had revenue of $232.73 million for the quarter, compared to analyst estimates of $234.38 million.

A number of analysts recently issued reports on the company. Williams Capital decreased their price objective on 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 upgraded PDC Energy from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Stifel Nicolaus decreased their price objective on 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 assumed coverage on PDC Energy in a research note on Tuesday, November 14th. They set a “market perform” rating on the stock. Finally, KeyCorp set a $65.00 price objective on PDC Energy and gave the company a “buy” rating in a research note on Sunday, January 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.58.

Shares of PDC Energy (NASDAQ PDCE) opened at $50.12 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. PDC Energy has a one year low of $36.74 and a one year high of $74.00. The stock has a market capitalization of $3,214.59, a price-to-earnings ratio of 125.13 and a beta of 0.68.

In other PDC Energy news, Director Jeffrey C. Swoveland sold 1,700 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $94,911.00. Following the transaction, the director now directly owns 21,519 shares in the company, valued at approximately $1,201,405.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.86, for a total value of $77,790.00. Following the transaction, the chief executive officer now owns 173,473 shares in the company, valued at $8,996,309.78. The disclosure for this sale can be found here. Insiders sold a total of 7,200 shares of company stock worth $386,751 over the last 90 days. Corporate insiders own 0.91% of the company’s stock.

Several institutional investors have recently made changes to their positions in PDCE. Vanguard Group Inc. increased its position in shares of PDC Energy by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after purchasing an additional 677,329 shares during the last quarter. State Street Corp increased its position in shares of PDC Energy by 24.8% during the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after purchasing an additional 487,816 shares during the last quarter. Precocity Capital LP bought a new position in shares of PDC Energy during the 3rd quarter valued at about $21,083,000. Caymus Capital Partners L.P. increased its position in shares of PDC Energy by 33.3% during the 3rd quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock valued at $74,785,000 after purchasing an additional 380,900 shares during the last quarter. Finally, NWQ Investment Management Company LLC increased its position in shares of PDC Energy by 59.5% during the 3rd quarter. NWQ Investment Management Company LLC now owns 934,532 shares of the energy producer’s stock valued at $45,820,000 after purchasing an additional 348,699 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.

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

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