PDC Energy Inc to Post Q4 2017 Earnings of $0.23 Per Share, Imperial Capital Forecasts (PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Equities researchers at Imperial Capital boosted their Q4 2017 earnings per share (EPS) estimates for PDC Energy in a research report issued on Wednesday. Imperial Capital analyst I. Haas now expects that the energy producer will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.19. Imperial Capital has a “Outperform” rating and a $87.00 price target on the stock. Imperial Capital also issued estimates for PDC Energy’s FY2018 earnings at $1.44 EPS.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Monday, November 6th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $232.73 million during the quarter, compared to analyst estimates of $234.38 million.

Several other analysts also recently weighed in on PDCE. Zacks Investment Research raised shares of PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday. ValuEngine downgraded shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $58.00 price target on shares of PDC Energy in a research note on Thursday, January 11th. BidaskClub downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of PDC Energy in a research note on Sunday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $67.05.

Shares of PDC Energy (NASDAQ:PDCE) opened at $46.32 on Friday. 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 12 month low of $36.74 and a 12 month high of $74.00. The firm has a market cap of $3,236.33, a P/E ratio of 125.97 and a beta of 0.68.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PDC Energy by 13.5% during the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after purchasing an additional 677,329 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of PDC Energy by 4.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,158,037 shares of the energy producer’s stock worth $162,766,000 after purchasing an additional 139,748 shares in the last quarter. State Street Corp increased its position in shares of PDC Energy by 24.8% during the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after purchasing an additional 487,816 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of PDC Energy by 17.5% during the third quarter. Bank of New York Mellon Corp now owns 1,748,149 shares of the energy producer’s stock worth $85,712,000 after purchasing an additional 260,297 shares in the last quarter. Finally, Caymus Capital Partners L.P. increased its position in shares of PDC Energy by 33.3% during the third quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock worth $74,785,000 after purchasing an additional 380,900 shares in the last quarter.

In related news, Director Jeffrey C. Swoveland sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the transaction, the director now owns 21,519 shares of the company’s stock, valued at $1,201,405.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total transaction of $78,120.00. Following the completion of the transaction, the chief executive officer now directly owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock valued at $386,751 in the last three months. 0.91% of the stock is currently owned by insiders.

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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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