Analysts predict that PDC Energy Inc (NASDAQ:PDCE) will post $263.28 million in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for PDC Energy’s earnings, with estimates ranging from $256.59 million to $266.92 million. PDC Energy posted sales of $108.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 143.6%. The business is scheduled to issue its next earnings results after the market closes on Monday, February 26th.
On average, analysts expect that PDC Energy will report full year sales of $263.28 million for the current financial year, with estimates ranging from $892.61 million to $999.02 million. For the next fiscal year, analysts forecast that the company will report sales of $1.25 billion per share, with estimates ranging from $1.20 billion to $1.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for PDC Energy.
A number of brokerages have weighed in on PDCE. Tudor Pickering upgraded PDC Energy from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. BMO Capital Markets restated a “hold” rating and set a $58.00 price objective on shares of PDC Energy in a research note on Thursday, January 11th. Zacks Investment Research downgraded PDC Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Imperial Capital increased their target price on PDC Energy from $73.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, ValuEngine downgraded PDC Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $67.05.
Shares of PDC Energy (NASDAQ PDCE) opened at $54.83 on Friday. PDC Energy has a 12 month low of $36.74 and a 12 month high of $72.24. 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 stock has a market capitalization of $3,442.51, a PE ratio of 134.00 and a beta of 0.68.
In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the firm’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 value of $78,120.00. Following the sale, the chief executive officer now owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now directly owns 21,519 shares in the company, valued at approximately $1,201,405.77. The disclosure for this sale can be found here. In the last three months, insiders sold 7,200 shares of company stock worth $386,751. Company insiders own 0.91% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in PDC Energy during the 3rd quarter valued at $666,000. American International Group Inc. raised its stake in PDC Energy by 8.6% during the 3rd quarter. American International Group Inc. now owns 52,337 shares of the energy producer’s stock valued at $2,566,000 after acquiring an additional 4,131 shares in the last quarter. New York State Common Retirement Fund raised its stake in PDC Energy by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 506,655 shares of the energy producer’s stock valued at $24,841,000 after acquiring an additional 18,821 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in PDC Energy during the 3rd quarter valued at $8,790,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in PDC Energy during the 3rd quarter valued at $883,000.
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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.
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