PDC Energy Inc (NASDAQ:PDCE) – Analysts at Jefferies Group increased their Q3 2018 EPS estimates for shares of PDC Energy in a research report issued on Wednesday. Jefferies Group analyst M. Lear now forecasts that the energy producer will post earnings per share of $0.71 for the quarter, up from their previous forecast of $0.62. Jefferies Group also issued estimates for PDC Energy’s Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.36 EPS, Q2 2019 earnings at $1.08 EPS, Q3 2019 earnings at $1.20 EPS, Q4 2019 earnings at $1.32 EPS and FY2019 earnings at $4.57 EPS.
Several other analysts have also weighed in on the company. BidaskClub lowered PDC Energy from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. KeyCorp set a $65.00 price objective on PDC Energy and gave the company a “buy” rating in a report on Sunday, January 21st. Credit Suisse Group initiated coverage on PDC Energy in a report on Monday, December 11th. They issued a “neutral” rating and a $51.00 price objective for the company. Barclays upped their price objective on PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Finally, Wolfe Research began coverage on PDC Energy in a report on Tuesday, November 14th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $66.50.
A number of large investors have recently bought and sold shares of PDCE. Nationwide Fund Advisors raised its position in PDC Energy by 3.8% during the third quarter. Nationwide Fund Advisors now owns 62,049 shares of the energy producer’s stock valued at $3,042,000 after buying an additional 2,265 shares during the period. First Trust Advisors LP increased its position in PDC Energy by 37.2% in the 3rd quarter. First Trust Advisors LP now owns 97,952 shares of the energy producer’s stock worth $4,803,000 after purchasing an additional 26,542 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in PDC Energy in the 3rd quarter worth about $633,000. Prudential Financial Inc. increased its position in PDC Energy by 14.8% in the 3rd quarter. Prudential Financial Inc. now owns 109,202 shares of the energy producer’s stock worth $5,354,000 after purchasing an additional 14,080 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in PDC Energy by 12.4% in the 3rd quarter. Principal Financial Group Inc. now owns 506,323 shares of the energy producer’s stock worth $24,825,000 after purchasing an additional 55,926 shares during the last quarter.
In related news, Director Jeffrey C. Swoveland sold 3,500 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $55.07, for a total transaction of $192,745.00. Following the transaction, the director now directly owns 21,454 shares of the company’s stock, valued at $1,181,471.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total value of $78,120.00. Following the transaction, the chief executive officer now directly owns 168,101 shares in the company, valued at $8,754,700.08. The disclosure for this sale can be found here. Insiders have sold 14,700 shares of company stock worth $790,616 over the last three months. 0.91% of the stock is owned by insiders.
About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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