PDC Energy Inc (NASDAQ:PDCE) – Equities research analysts at Seaport Global Securities boosted their Q2 2019 earnings estimates for shares of PDC Energy in a research note issued on Tuesday, June 12th. Seaport Global Securities analyst M. Kelly now forecasts that the energy producer will post earnings per share of $1.03 for the quarter, up from their prior forecast of $0.98. Seaport Global Securities also issued estimates for PDC Energy’s Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.24 EPS and FY2019 earnings at $4.50 EPS.
PDCE has been the topic of a number of other research reports. BidaskClub raised shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Wednesday, April 18th. SunTrust Banks raised their price target on shares of PDC Energy to $62.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Goldman Sachs Group raised shares of PDC Energy from a “neutral” rating to a “buy” rating in a report on Thursday, April 12th. Stifel Nicolaus set a $95.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Finally, Jefferies Financial Group set a $71.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a research report on Monday, March 19th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.35.
PDC Energy opened at $60.45 on Wednesday, according to MarketBeat Ratings. PDC Energy has a 1 year low of $36.74 and a 1 year high of $66.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -17.37, a PEG ratio of 0.71 and a beta of 0.66.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, May 2nd. The energy producer reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.34). The business had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $270.04 million. PDC Energy had a negative net margin of 19.50% and a positive return on equity of 1.47%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share.
In other PDC Energy news, Director Larry F. Mazza sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $61.00, for a total value of $244,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lance Lauck sold 500 shares of the firm’s stock in a transaction on Friday, April 13th. The shares were sold at an average price of $52.50, for a total value of $26,250.00. Following the completion of the transaction, the executive vice president now owns 98,728 shares in the company, valued at approximately $5,183,220. The disclosure for this sale can be found here. Insiders have sold a total of 19,545 shares of company stock worth $1,155,768 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings 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 buying an additional 374,797 shares during the period. First Interstate Bank grew its position in shares of PDC Energy by 120.8% during the fourth quarter. First Interstate Bank now owns 5,830 shares of the energy producer’s stock worth $300,000 after buying an additional 3,190 shares in the last quarter. Rhumbline Advisers lifted its stake in PDC Energy by 15.6% during the fourth quarter. Rhumbline Advisers now owns 162,421 shares of the energy producer’s stock worth $8,371,000 after purchasing an additional 21,945 shares during the last quarter. Deutsche Bank AG lifted its stake in PDC Energy by 66.9% during the fourth quarter. Deutsche Bank AG now owns 248,366 shares of the energy producer’s stock worth $12,798,000 after purchasing an additional 99,554 shares during the last quarter. Finally, Swiss National Bank lifted its stake in PDC Energy by 1.8% during the fourth quarter. Swiss National Bank now owns 94,366 shares of the energy producer’s stock worth $4,864,000 after purchasing an additional 1,700 shares during the last quarter.
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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