Wall Street analysts expect PDC Energy Inc (NASDAQ:PDCE) to post $352.27 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for PDC Energy’s earnings, with the lowest sales estimate coming in at $315.00 million and the highest estimate coming in at $380.00 million. PDC Energy reported sales of $212.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 65.8%. The firm is expected to report its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that PDC Energy will report full year sales of $1.34 billion for the current year, with estimates ranging from $1.21 billion to $1.50 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.69 billion, with estimates ranging from $1.59 billion to $1.88 billion. Zacks Investment Research’s sales calculations 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 announced its quarterly earnings data on Wednesday, May 1st. The energy producer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.29). PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The firm had revenue of $134.50 million during the quarter, compared to analyst estimates of $325.83 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. PDC Energy’s revenue for the quarter was down 48.4% compared to the same quarter last year.
In other news, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the transaction, the insider now owns 248,687 shares in the company, valued at $11,215,783.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Ellis bought 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $37.30 per share, for a total transaction of $373,000.00. Following the acquisition, the director now directly owns 17,752 shares of the company’s stock, valued at $662,149.60. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,214 shares of company stock worth $232,708. Corporate insiders own 1.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its position in PDC Energy by 1,092.0% in the fourth quarter. Millennium Management LLC now owns 2,071,379 shares of the energy producer’s stock worth $61,644,000 after buying an additional 1,897,607 shares during the last quarter. Dimensional Fund Advisors LP increased its position in PDC Energy by 19.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,622,774 shares of the energy producer’s stock worth $188,058,000 after buying an additional 768,680 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in PDC Energy in the fourth quarter worth $25,000. Norges Bank purchased a new stake in PDC Energy in the fourth quarter worth $17,582,000. Finally, Victory Capital Management Inc. increased its position in PDC Energy by 20.1% in the first quarter. Victory Capital Management Inc. now owns 3,497,027 shares of the energy producer’s stock worth $142,259,000 after buying an additional 584,123 shares during the last quarter.
Shares of PDCE traded down $0.95 during midday trading on Tuesday, reaching $32.10. The stock had a trading volume of 99,661 shares, compared to its average volume of 1,067,487. PDC Energy has a 1-year low of $26.59 and a 1-year high of $65.34. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -10.74, a PEG ratio of 0.46 and a beta of 1.04. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53.
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. 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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