Equities analysts forecast that PDC Energy Inc (NASDAQ:PDCE) will report earnings per share of $0.41 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for PDC Energy’s earnings, with estimates ranging from $0.03 to $0.71. PDC Energy reported earnings per share of ($0.06) during the same quarter last year, which suggests a positive year-over-year growth rate of 783.3%. The business is expected to issue its next quarterly earnings results on Friday, May 4th.
On average, analysts expect that PDC Energy will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $0.76 to $3.52. For the next year, analysts expect that the company will post earnings of $3.94 per share, with EPS estimates ranging from $2.16 to $5.38. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PDC Energy.
Several equities analysts recently issued reports on PDCE shares. BidaskClub upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Barclays raised their price target on PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Stifel Nicolaus decreased their price target on PDC Energy from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, December 13th. Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, February 9th. Finally, Mizuho reiterated a “buy” rating and issued a $66.00 price target on shares of PDC Energy in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $66.50.
In other news, Director Jeffrey C. Swoveland sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $55.07, for a total transaction of $192,745.00. Following the sale, the director now 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 SEC, which is available at the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $51.86, for a total value of $77,790.00. Following the sale, the chief executive officer now directly owns 173,473 shares in the company, valued at approximately $8,996,309.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,700 shares of company stock worth $790,616. Company insiders own 0.91% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDCE. MHI Funds LLC acquired a new stake in shares of PDC Energy during the fourth quarter worth about $138,000. First Mercantile Trust Co. raised its position in shares of PDC Energy by 93.3% during the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after purchasing an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PDC Energy by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock worth $185,000 after purchasing an additional 1,201 shares during the period. Connable Office Inc. acquired a new stake in shares of PDC Energy during the third quarter worth about $202,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of PDC Energy during the fourth quarter worth about $212,000.
PDC Energy Company Profile
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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