Research Analysts Offer Predictions for PDC Energy Inc’s FY2021 Earnings (NASDAQ:PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Equities research analysts at SunTrust Banks issued their FY2021 EPS estimates for PDC Energy in a research note issued on Thursday, August 8th. SunTrust Banks analyst W. Fitzpatrick anticipates that the energy producer will post earnings of $3.30 per share for the year.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Wednesday, August 7th. The energy producer reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.11). PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. The company had revenue of $390.70 million during the quarter, compared to the consensus estimate of $333.78 million. During the same period in the previous year, the company earned $0.56 EPS. PDC Energy’s quarterly revenue was up 83.9% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the stock. TD Securities dropped their target price on shares of PDC Energy from $65.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BMO Capital Markets downgraded shares of PDC Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $50.00 to $38.00 in a report on Thursday, July 11th. BidaskClub downgraded shares of PDC Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 9th. Williams Capital reiterated a “buy” rating and set a $61.00 price objective on shares of PDC Energy in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.69.

Shares of PDCE opened at $27.88 on Monday. The stock has a market cap of $1.78 billion, a PE ratio of -9.42, a P/E/G ratio of 0.70 and a beta of 1.09. The company has a quick ratio of 0.43, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $30.42. PDC Energy has a twelve month low of $24.13 and a twelve month high of $57.40.

Several hedge funds have recently modified their holdings of PDCE. Arizona State Retirement System raised its holdings in shares of PDC Energy by 0.3% during the first quarter. Arizona State Retirement System now owns 102,042 shares of the energy producer’s stock valued at $4,151,000 after purchasing an additional 280 shares during the period. Shufro Rose & Co. LLC lifted its stake in shares of PDC Energy by 2.9% during the 2nd quarter. Shufro Rose & Co. LLC now owns 14,200 shares of the energy producer’s stock valued at $512,000 after buying an additional 400 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of PDC Energy by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,592 shares of the energy producer’s stock valued at $1,041,000 after buying an additional 462 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of PDC Energy by 47.0% during the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after buying an additional 520 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its stake in PDC Energy by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 21,244 shares of the energy producer’s stock worth $864,000 after purchasing an additional 723 shares in the last quarter.

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

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