PDC Energy, Inc. (NASDAQ:PDCE) – Imperial Capital lifted their Q4 2017 earnings estimates for PDC Energy in a research note issued on Tuesday, according to Zacks Investment Research. Imperial Capital analyst I. Haas now expects that the energy producer will earn $0.18 per share for the quarter, up from their previous forecast of $0.12. Imperial Capital has a “Outperform” rating and a $66.00 price target on the stock. Imperial Capital also issued estimates for PDC Energy’s Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.83 EPS.
Several other research firms have also commented on PDCE. Stifel Nicolaus set a $69.00 price objective on PDC Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Seaport Global Securities upgraded PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $51.00 in a research note on Friday, August 11th. BMO Capital Markets set a $55.00 target price on PDC Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. SunTrust Banks set a $55.00 target price on PDC Energy and gave the company a “buy” rating in a research note on Sunday, October 29th. Finally, KeyCorp restated a “buy” rating and set a $50.00 target price on shares of PDC Energy in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. PDC Energy currently has an average rating of “Hold” and a consensus target price of $69.00.
PDC Energy (NASDAQ PDCE) traded up $1.47 during trading hours on Wednesday, reaching $43.04. The company’s stock had a trading volume of 1,097,643 shares, compared to its average volume of 1,086,107. 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 one year low of $36.74 and a one year high of $84.88. The stock has a market capitalization of $2,835.17, a price-to-earnings ratio of 110.36 and a beta of 0.80.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of PDC Energy by 5.5% during the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after buying an additional 381,958 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $244,797,000 after buying an additional 677,329 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PDC Energy by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock valued at $160,110,000 after buying an additional 328,518 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of PDC Energy by 1.4% during the third quarter. Victory Capital Management Inc. now owns 3,018,289 shares of the energy producer’s stock valued at $147,987,000 after buying an additional 42,425 shares during the last quarter. Finally, State Street Corp raised its holdings 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 valued at $105,957,000 after buying an additional 487,816 shares during the last quarter.
In other news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.91% of the company’s stock.
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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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