Wall Street analysts forecast that PDC Energy Inc (NASDAQ:PDCE) will report sales of $346.14 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for PDC Energy’s earnings, with estimates ranging from $292.74 million to $381.40 million. PDC Energy reported sales of $232.73 million during the same quarter last year, which indicates a positive year-over-year growth rate of 48.7%. The company is scheduled to report its next earnings report on Monday, November 5th.
According to Zacks, analysts expect that PDC Energy will report full-year sales of $1.27 billion for the current year, with estimates ranging from $1.12 billion to $1.41 billion. For the next year, analysts expect that the company will post sales of $1.80 billion per share, with estimates ranging from $1.70 billion to $1.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PDC Energy.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.04). The company had revenue of $212.53 million during the quarter, compared to the consensus estimate of $308.73 million. PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The company’s quarterly revenue was down 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. BidaskClub cut PDC Energy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 3rd. TD Securities assumed coverage on PDC Energy in a research note on Thursday, July 5th. They set a “buy” rating and a $80.00 target price for the company. SunTrust Banks upped their target price on PDC Energy to $62.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, ValuEngine upgraded PDC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $71.78.
Shares of PDCE stock traded up $1.00 during trading on Wednesday, hitting $51.55. The company had a trading volume of 840,344 shares, compared to its average volume of 967,970. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a market cap of $3.64 billion, a P/E ratio of -14.81, a price-to-earnings-growth ratio of 0.78 and a beta of 0.64. PDC Energy has a one year low of $36.74 and a one year high of $66.20.
In other news, Director David C. Parke sold 600 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total value of $31,818.00. Following the completion of the transaction, the director now directly 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 this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $60.91, for a total value of $91,365.00. Following the completion of the transaction, the insider now owns 208,026 shares of the company’s stock, valued at $12,670,863.66. The disclosure for this sale can be found here. Insiders sold a total of 12,100 shares of company stock valued at $730,663 over the last quarter. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PDCE. Jane Street Group LLC acquired a new stake in PDC Energy in the fourth quarter valued at $212,000. Dupont Capital Management Corp acquired a new stake in PDC Energy in the first quarter valued at $768,000. American Assets Investment Management LLC acquired a new stake in PDC Energy in the first quarter valued at $490,000. Frontier Capital Management Co. LLC increased its holdings in PDC Energy by 5.3% in the first quarter. Frontier Capital Management Co. LLC now owns 636,323 shares of the energy producer’s stock valued at $31,199,000 after purchasing an additional 32,189 shares during the period. Finally, Monarch Partners Asset Management LLC increased its holdings in PDC Energy by 39.3% in the first quarter. Monarch Partners Asset Management LLC now owns 311,540 shares of the energy producer’s stock valued at $15,275,000 after purchasing an additional 87,875 shares during the period.
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.
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