PDC Energy, Inc. (NASDAQ:PDCE) to Post FY2017 Earnings of $0.43 Per Share, Jefferies Group Forecasts

PDC Energy, Inc. (NASDAQ:PDCE) – Stock analysts at Jefferies Group issued their FY2017 EPS estimates for PDC Energy in a research note issued to investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst M. Lear anticipates that the energy producer will post earnings of $0.43 per share for the year. Jefferies Group has a “Buy” rating and a $60.00 price target on the stock. Jefferies Group also issued estimates for PDC Energy’s Q4 2017 earnings at $0.20 EPS, Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.30 EPS, Q1 2019 earnings at $0.80 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.84 EPS and FY2019 earnings at $3.35 EPS.

Other analysts also recently issued reports about the stock. Williams Capital set a $67.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research report on Tuesday, August 8th. Imperial Capital assumed coverage on shares of PDC Energy in a research report on Friday, August 18th. They issued an “outperform” rating and a $66.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $76.00 price target on shares of PDC Energy in a research report on Wednesday, August 16th. Seaport Global Securities upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Mizuho upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.00 to $55.00 in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.00.

Shares of PDC Energy (PDCE) traded down $0.70 during trading hours on Monday, hitting $43.04. 1,028,972 shares of the company were exchanged, compared to its average volume of 1,086,189. The firm has a market cap of $3,019.61, a P/E ratio of 117.54 and a beta of 0.80. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88.

In other news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC grew its stake in shares of PDC Energy by 18.7% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 14,351 shares of the energy producer’s stock worth $704,000 after acquiring an additional 2,265 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of PDC Energy by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 97,000 shares of the energy producer’s stock worth $4,756,000 after acquiring an additional 1,900 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of PDC Energy by 522.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,216 shares of the energy producer’s stock worth $305,000 after acquiring an additional 5,217 shares in the last quarter. Earnest Partners LLC grew its stake in shares of PDC Energy by 0.4% during the 3rd quarter. Earnest Partners LLC now owns 926,952 shares of the energy producer’s stock worth $45,448,000 after acquiring an additional 3,460 shares in the last quarter. Finally, NWQ Investment Management Company LLC grew its stake 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 worth $45,820,000 after acquiring an additional 348,699 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.

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

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