Imperial Capital Weighs in on PDC Energy Inc’s FY2017 Earnings (PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Research analysts at Imperial Capital lifted their FY2017 earnings estimates for shares of PDC Energy in a research report issued to clients and investors on Wednesday. Imperial Capital analyst I. Haas now expects that the energy producer will earn ($3.49) per share for the year, up from their previous forecast of ($3.53). Imperial Capital currently has a “Outperform” rating and a $87.00 target price on the stock. Imperial Capital also issued estimates for PDC Energy’s Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.39 EPS and Q4 2018 earnings at $0.42 EPS.

Several other analysts have also issued reports on PDCE. BMO Capital Markets reaffirmed a “hold” rating and set a $58.00 price target on shares of PDC Energy in a research report on Thursday, January 11th. Zacks Investment Research lowered shares of PDC Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group initiated coverage on shares of PDC Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $51.00 price target on the stock. 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, Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of PDC Energy in a research report on Sunday, January 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. PDC Energy has an average rating of “Hold” and a consensus price target of $67.05.

Shares of PDC Energy (NASDAQ PDCE) opened at $46.55 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $3,070.00, a price-to-earnings ratio of -11.47 and a beta of 0.68. PDC Energy has a 1 year low of $36.74 and a 1 year high of $74.00.

In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the company’s 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 directly owns 173,473 shares in the company, valued at $8,996,309.78. 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 company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total transaction of $55,830.00. Following the completion of the transaction, the chief operating officer now owns 62,338 shares in the company, valued at $3,480,330.54. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock worth $386,751 over the last 90 days. 0.91% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. grew its stake in shares of PDC Energy by 5.2% in the fourth quarter. Whittier Trust Co. now owns 21,113 shares of the energy producer’s stock valued at $1,088,000 after acquiring an additional 1,053 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of PDC Energy by 24.0% in the second quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock valued at $250,000 after acquiring an additional 1,123 shares in the last quarter. Moody Aldrich Partners LLC grew its stake in shares of PDC Energy by 14.9% in the third quarter. Moody Aldrich Partners LLC now owns 8,741 shares of the energy producer’s stock valued at $429,000 after acquiring an additional 1,136 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of PDC Energy by 67.0% in the second 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PDC Energy by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after acquiring an additional 1,201 shares in the last quarter.

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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.

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

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