Q3 2018 EPS Estimates for PDC Energy Inc (PDCE) Boosted by SunTrust Banks

PDC Energy Inc (NASDAQ:PDCE) – SunTrust Banks boosted their Q3 2018 earnings per share (EPS) estimates for PDC Energy in a research note issued on Tuesday, October 30th. SunTrust Banks analyst W. Fitzpatrick now anticipates that the energy producer will earn $0.62 per share for the quarter, up from their prior forecast of $0.61. SunTrust Banks also issued estimates for PDC Energy’s FY2018 earnings at $2.05 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.12 EPS, FY2019 earnings at $3.99 EPS, Q1 2020 earnings at $1.53 EPS, Q2 2020 earnings at $1.45 EPS, Q3 2020 earnings at $1.53 EPS and FY2020 earnings at $6.06 EPS.

A number of other equities analysts have also issued reports on the stock. BidaskClub lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. ValuEngine raised shares of PDC Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Oppenheimer began coverage on shares of PDC Energy in a research report on Wednesday, October 3rd. They set a “market perform” rating on the stock. Williams Capital set a $77.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a research report on Monday, August 20th. Finally, KLR Group reaffirmed a “buy” rating and set a $84.00 target price on shares of PDC Energy in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $72.16.

Shares of PDCE stock opened at $43.93 on Friday. PDC Energy has a 1 year low of $40.62 and a 1 year high of $66.20. The firm has a market cap of $2.77 billion, a P/E ratio of -12.62, a P/E/G ratio of 0.50 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.36.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The company had revenue of $212.53 million for the quarter, compared to the consensus estimate of $308.73 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was down 22.8% compared to the same quarter last year.

Several large investors have recently modified their holdings of the company. Teacher Retirement System of Texas boosted its stake in shares of PDC Energy by 7.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock valued at $809,000 after purchasing an additional 974 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of PDC Energy by 3.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock valued at $1,833,000 after purchasing an additional 1,045 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PDC Energy by 29.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,092 shares of the energy producer’s stock valued at $309,000 after purchasing an additional 1,166 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of PDC Energy by 13.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock valued at $478,000 after purchasing an additional 1,190 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of PDC Energy by 30.4% in the 2nd quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 1,215 shares in the last quarter.

In other news, Director David C. Parke sold 600 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $53.03, for a total value of $31,818.00. Following the sale, the director now owns 13,341 shares in the company, valued at approximately $707,473.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $52.71, for a total transaction of $79,065.00. Following the completion of the sale, the insider now owns 203,526 shares in the company, valued at approximately $10,727,855.46. The disclosure for this sale can be found here. Insiders sold a total of 10,441 shares of company stock worth $552,165 in the last three months. Insiders own 1.00% of the company’s stock.

PDC Energy Company Profile

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.

Featured Article: Average Daily Trade Volume – What It Means In Stock Trading

Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply