PDC Energy Forecasted to Earn FY2018 Earnings of $2.38 Per Share (PDCE)

PDC Energy (NASDAQ:PDCE) – Equities researchers at Capital One Financial reduced their FY2018 earnings per share estimates for shares of PDC Energy in a research note issued on Thursday, April 12th. Capital One Financial analyst B. Velie now forecasts that the energy producer will post earnings of $2.38 per share for the year, down from their previous forecast of $2.39.

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PDC Energy (NASDAQ:PDCE) last released its earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. PDC Energy had a negative net margin of 13.13% and a positive return on equity of 1.17%. The firm had revenue of $189.52 million during the quarter, compared to analyst estimates of $263.28 million.

Several other brokerages also recently weighed in on PDCE. BMO Capital Markets reissued a “hold” rating and set a $58.00 price target on shares of PDC Energy in a research report on Thursday, January 11th. Imperial Capital raised their price target on shares of PDC Energy from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Deutsche Bank started coverage on shares of PDC Energy in a research report on Wednesday, April 4th. They set a “buy” rating and a $62.00 price target for the company. Finally, Williams Capital reissued a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of PDC Energy in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. PDC Energy has an average rating of “Buy” and a consensus target price of $66.17.

PDCE stock opened at $53.17 on Monday. PDC Energy has a 52-week low of $36.74 and a 52-week high of $64.10. The company has a market cap of $3,380.73, a PE ratio of -15.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.46.

Hedge funds have recently modified their holdings of the company. MHI Funds LLC bought a new stake in shares of PDC Energy during the 4th quarter valued at $138,000. First Mercantile Trust Co. grew its position in shares of PDC Energy by 93.3% during the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after acquiring an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PDC Energy by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after acquiring an additional 1,201 shares during the period. ETRADE Capital Management LLC bought a new stake in shares of PDC Energy during the 4th quarter valued at $212,000. Finally, Jane Street Group LLC bought a new stake in shares of PDC Energy during the 4th quarter valued at $212,000.

In other PDC Energy news, Director Jeffrey C. Swoveland sold 1,700 shares of PDC Energy stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now owns 21,519 shares of the company’s stock, valued at approximately $1,201,405.77. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $48.92, for a total transaction of $73,380.00. Following the completion of the sale, the insider now directly owns 211,026 shares of the company’s stock, valued at approximately $10,323,391.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,314 shares of company stock valued at $1,785,258. 0.91% of the stock is currently owned by insiders.

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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.

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

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