PDC Energy Inc (NASDAQ:PDCE) – Equities research analysts at Seaport Global Securities cut their Q3 2018 EPS estimates for PDC Energy in a research report issued to clients and investors on Monday, August 27th. Seaport Global Securities analyst M. Kelly now forecasts that the energy producer will post earnings of $0.59 per share for the quarter, down from their prior estimate of $0.70. Seaport Global Securities also issued estimates for PDC Energy’s Q4 2018 earnings at $0.96 EPS, FY2018 earnings at $2.16 EPS, Q1 2019 earnings at $1.04 EPS, Q3 2019 earnings at $1.18 EPS and FY2019 earnings at $4.51 EPS.
PDCE has been the topic of a number of other reports. Zacks Investment Research cut PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. TD Securities started coverage on PDC Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $80.00 price objective on the stock. BidaskClub cut PDC Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 3rd. SunTrust Banks upped their price objective on PDC Energy to $62.00 and gave the company a “buy” rating in a report on Friday, May 4th. Finally, ValuEngine upgraded PDC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. PDC Energy presently has an average rating of “Buy” and an average price target of $72.16.
PDCE opened at $54.78 on Thursday. PDC Energy has a one year low of $37.15 and a one year high of $66.20. The company has a market capitalization of $3.55 billion, a P/E ratio of 57.82, a price-to-earnings-growth ratio of 0.59 and a beta of 0.64. 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 released its quarterly earnings data on Wednesday, August 8th. The energy producer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The business had revenue of $212.53 million during the quarter, compared to analyst estimates of $308.73 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s revenue was down 22.8% on a year-over-year basis.
In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $62.57, for a total transaction of $93,855.00. Following the transaction, the insider now directly owns 205,026 shares in the company, valued at $12,828,476.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Parke sold 600 shares of the company’s 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 transaction, the director now owns 13,341 shares in the company, valued at $707,473.23. The disclosure for this sale can be found here. Insiders have sold 12,100 shares of company stock worth $730,663 over the last 90 days. 1.00% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new position in PDC Energy during the first quarter worth $107,000. Russell Investments Group Ltd. acquired a new position in PDC Energy during the first quarter worth $192,000. Pitcairn Co. acquired a new stake in shares of PDC Energy in the first quarter valued at $205,000. Dubuque Bank & Trust Co. raised its stake in shares of PDC Energy by 31.8% in the first quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock valued at $219,000 after acquiring an additional 1,077 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of PDC Energy by 994.8% in the first quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock valued at $228,000 after acquiring an additional 4,228 shares in 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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