PDC Energy Inc (NASDAQ:PDCE) – Equities research analysts at Imperial Capital boosted their FY2017 earnings per share estimates for shares of PDC Energy in a report released on Wednesday. Imperial Capital analyst I. Haas now forecasts that the energy producer will earn ($3.49) per share for the year, up from their previous estimate of ($3.53). Imperial Capital has a “Outperform” rating and a $87.00 price objective 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 research analysts also recently weighed in on PDCE. Williams Capital lifted their target price on PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Mizuho reiterated a “buy” rating and issued a $55.00 target price on shares of PDC Energy in a research note on Friday, October 27th. 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. Stifel Nicolaus restated a “buy” rating and issued a $81.00 price target (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. Finally, Wolfe Research began coverage on PDC Energy in a research note on Tuesday, November 14th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. PDC Energy currently has an average rating of “Hold” and a consensus price target of $67.05.
PDC Energy (PDCE) opened at $48.55 on Monday. PDC Energy has a 12 month low of $36.74 and a 12 month high of $74.00. The firm has a market capitalization of $3,066.38, a P/E ratio of -11.96 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of PDC Energy by 4.5% in the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock worth $445,509,000 after acquiring an additional 374,797 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of PDC Energy by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 3,158,037 shares of the energy producer’s stock worth $162,766,000 after acquiring an additional 139,748 shares during the last quarter. State Street Corp raised its holdings in shares of PDC Energy by 24.8% in the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after acquiring an additional 487,816 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PDC Energy by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock worth $92,451,000 after acquiring an additional 45,612 shares during the last quarter. Finally, Caymus Capital Partners L.P. raised its holdings in shares of PDC Energy by 33.3% in 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 acquiring an additional 380,900 shares during the last quarter.
In other PDC Energy news, Director Jeffrey C. Swoveland sold 1,700 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $94,911.00. Following the sale, the director now directly owns 21,519 shares in the company, valued at $1,201,405.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $51.86, for a total value of $77,790.00. Following the sale, 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. Over the last quarter, insiders have sold 7,200 shares of company stock worth $386,751. 0.91% of the stock is owned by company insiders.
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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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