PDC Energy Inc (NASDAQ:PDCE) – Equities research analysts at Mitsubishi UFJ Financial Group increased their Q4 2019 EPS estimates for PDC Energy in a research note issued to investors on Wednesday, April 3rd. Mitsubishi UFJ Financial Group analyst M. Mcallister now anticipates that the energy producer will post earnings per share of $1.10 for the quarter, up from their previous estimate of $1.05. Mitsubishi UFJ Financial Group also issued estimates for PDC Energy’s Q1 2020 earnings at $1.16 EPS, Q2 2020 earnings at $1.17 EPS, Q3 2020 earnings at $1.16 EPS, Q4 2020 earnings at $1.10 EPS and FY2020 earnings at $4.58 EPS.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Wednesday, February 27th. The energy producer reported ($2.22) EPS for the quarter, missing the consensus estimate of $0.56 by ($2.78). PDC Energy had a net margin of 0.13% and a negative return on equity of 3.09%. The business had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $360.91 million. During the same period last year, the business earned $1.17 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis.
A number of other analysts also recently issued reports on PDCE. Zacks Investment Research downgraded shares of PDC Energy from a “hold” rating to a “sell” rating in a report on Friday, February 15th. Citigroup began coverage on shares of PDC Energy in a report on Wednesday, January 23rd. They set a “buy” rating and a $45.00 price objective for the company. KeyCorp boosted their price objective on shares of PDC Energy from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. MKM Partners set a $55.00 price objective on shares of PDC Energy and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Williams Capital restated a “buy” rating and issued a $62.00 target price on shares of PDC Energy in a report on Wednesday, December 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $60.33.
Shares of NASDAQ:PDCE opened at $43.15 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -14.58, a price-to-earnings-growth ratio of 0.38 and a beta of 0.76. PDC Energy has a fifty-two week low of $26.59 and a fifty-two week high of $66.20.
In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $34.21, for a total transaction of $51,315.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott J. Reasoner sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $40.00, for a total transaction of $52,000.00. Following the sale, the chief operating officer now directly owns 91,827 shares of the company’s stock, valued at $3,673,080. The disclosure for this sale can be found here. In the last three months, insiders sold 3,300 shares of company stock worth $125,815. 1.00% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in PDC Energy by 133.7% during the third quarter. Russell Investments Group Ltd. now owns 11,902 shares of the energy producer’s stock valued at $582,000 after purchasing an additional 6,810 shares in the last quarter. Bank of New York Mellon Corp increased its position in PDC Energy by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 1,767,075 shares of the energy producer’s stock worth $86,517,000 after buying an additional 26,870 shares in the last quarter. FMR LLC raised its stake in shares of PDC Energy by 12.4% in the third quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock worth $186,317,000 after buying an additional 419,986 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of PDC Energy by 61.7% in the third quarter. Canada Pension Plan Investment Board now owns 133,600 shares of the energy producer’s stock worth $6,541,000 after buying an additional 51,000 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of PDC Energy by 2.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 66,796 shares of the energy producer’s stock valued at $3,270,000 after buying an additional 1,703 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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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