Zacks: Analysts Anticipate PDC Energy Inc (PDCE) Will Post Quarterly Sales of $266.57 Million

Equities research analysts forecast that PDC Energy Inc (NASDAQ:PDCE) will report sales of $266.57 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for PDC Energy’s earnings, with estimates ranging from $258.00 million to $289.90 million. PDC Energy posted sales of $273.71 million during the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.

On average, analysts expect that PDC Energy will report full year sales of $266.57 million for the current fiscal year, with estimates ranging from $1.18 billion to $1.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.67 billion per share, with estimates ranging from $1.56 billion to $1.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover PDC Energy.

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

Several equities analysts have recently issued reports on the company. BMO Capital Markets restated a “hold” rating and set a $58.00 target price on shares of PDC Energy in a research report on Thursday, January 11th. Jefferies Group set a $71.00 price objective on PDC Energy and gave the company a “buy” rating in a report on Monday, March 19th. Deutsche Bank began coverage on PDC Energy in a report on Wednesday. They set a “buy” rating and a $62.00 price objective on the stock. Johnson Rice began coverage on PDC Energy in a report on Wednesday, March 21st. They set a “buy” rating and a $66.00 price objective on the stock. Finally, BidaskClub cut PDC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. PDC Energy has a consensus rating of “Buy” and a consensus target price of $66.17.

In other PDC Energy news, EVP Lance Lauck sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $48.92, for a total value of $48,920.00. Following the sale, the executive vice president now owns 99,228 shares in the company, valued at approximately $4,854,233.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $48.92, for a total value of $73,380.00. Following the completion of the sale, the insider now owns 211,026 shares in the company, valued at approximately $10,323,391.92. The disclosure for this sale can be found here. Insiders sold a total of 34,814 shares of company stock worth $1,865,358 in the last 90 days. Company insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCE. Schf GPE LLC bought a new stake in PDC Energy in the 4th quarter valued at approximately $55,125,000. Mangrove Partners bought a new stake in PDC Energy in the 4th quarter valued at approximately $46,347,000. NWQ Investment Management Company LLC lifted its stake in PDC Energy by 77.8% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after acquiring an additional 727,517 shares in the last quarter. Precocity Capital LP bought a new stake in shares of PDC Energy during the 3rd quarter worth approximately $21,083,000. Finally, Earnest Partners LLC raised its stake in shares of PDC Energy by 45.0% during the 4th quarter. Earnest Partners LLC now owns 1,343,663 shares of the energy producer’s stock worth $69,252,000 after purchasing an additional 416,711 shares in the last quarter.

Shares of PDC Energy stock traded down $1.43 during trading on Friday, hitting $45.53. 1,137,195 shares of the company were exchanged, compared to its average volume of 919,127. The firm has a market capitalization of $3,122.80, a P/E ratio of -13.08, a PEG ratio of 0.53 and a beta of 0.66. PDC Energy has a 1-year low of $36.74 and a 1-year high of $65.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

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

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