Wall Street analysts expect PDC Energy (NASDAQ:PDCE) to report sales of $265.75 million for the current quarter, Zacks reports. Eight analysts have made estimates for PDC Energy’s earnings. The lowest sales estimate is $258.00 million and the highest is $289.90 million. PDC Energy posted sales of $273.71 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 2nd.
According to Zacks, analysts expect that PDC Energy will report full-year sales of $1.23 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.35 billion. For the next year, analysts expect that the business will report sales of $1.66 billion per share, with estimates ranging from $1.56 billion to $1.80 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover PDC Energy.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Monday, February 26th. The energy producer reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $189.52 million during the quarter, compared to analyst estimates of $263.28 million. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%.
Several equities analysts have recently issued reports on PDCE shares. Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday, February 9th. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of PDC Energy in a research report on Sunday, January 28th. KeyCorp set a $65.00 target price on PDC Energy and gave the stock a “buy” rating in a research report on Sunday, January 21st. BidaskClub lowered PDC Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, Mizuho restated a “buy” rating and set a $66.00 target price on shares of PDC Energy in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.06.
In other PDC Energy news, EVP Lance Lauck sold 500 shares of the business’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $52.50, for a total value of $26,250.00. Following the sale, the executive vice president now owns 98,728 shares in the company, valued at approximately $5,183,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Daniel Willson Amidon sold 9,114 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $53.88, for a total value of $491,062.32. Following the completion of the sale, the senior vice president now owns 66,611 shares in the company, valued at approximately $3,589,000.68. The disclosure for this sale can be found here. Insiders have sold a total of 31,114 shares of company stock worth $1,660,767 in the last quarter. 0.91% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in PDC Energy by 4.5% in the 4th quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after acquiring an additional 374,797 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of PDC Energy by 4.6% during the 4th quarter. Victory Capital Management Inc. now owns 3,158,037 shares of the energy producer’s stock worth $162,766,000 after purchasing an additional 139,748 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of PDC Energy by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock worth $92,451,000 after purchasing an additional 45,612 shares in the last quarter. NWQ Investment Management Company LLC raised its stake in shares of PDC Energy by 77.8% during the 4th quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock worth $85,662,000 after purchasing an additional 727,517 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of PDC Energy by 45.0% during the 4th quarter. Earnest Partners LLC now owns 1,343,663 shares of the energy producer’s stock worth $69,252,000 after purchasing an additional 416,711 shares in the last quarter.
PDCE stock traded up $0.29 during midday trading on Monday, reaching $56.91. The stock had a trading volume of 1,342,691 shares, compared to its average volume of 925,510. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3,648.54, a price-to-earnings ratio of -16.35, a PEG ratio of 0.60 and a beta of 0.66. PDC Energy has a twelve month low of $36.74 and a twelve month high of $59.80.
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About PDC Energy
PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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