Brokerages expect PDC Energy Inc (NASDAQ:PDCE) to announce earnings per share (EPS) of $0.07 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for PDC Energy’s earnings. The lowest EPS estimate is ($0.13) and the highest is $0.40. PDC Energy posted earnings per share of $0.34 in the same quarter last year, which would suggest a negative year-over-year growth rate of 79.4%. The company is scheduled to announce its next quarterly earnings report on Wednesday, August 5th.
According to Zacks, analysts expect that PDC Energy will report full-year earnings of ($1.23) per share for the current financial year, with EPS estimates ranging from ($2.21) to ($0.20). For the next year, analysts forecast that the firm will post earnings of $1.06 per share, with EPS estimates ranging from ($0.15) to $2.57. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow PDC Energy.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Thursday, May 7th. The energy producer reported ($8.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($8.14). PDC Energy had a negative return on equity of 29.17% and a negative net margin of 22.57%. The firm had revenue of $757.03 million for the quarter, compared to analysts’ expectations of $386.16 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 462.8% compared to the same quarter last year.
PDCE has been the subject of a number of analyst reports. Imperial Capital cut their price target on PDC Energy from $50.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, June 3rd. Stifel Nicolaus raised PDC Energy from a “hold” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $21.00 in a research report on Thursday, May 21st. BidaskClub downgraded PDC Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, MKM Partners lowered their price objective on PDC Energy from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $30.80.
In related news, Director Jeffrey C. Swoveland bought 7,135 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $10.51 per share, with a total value of $74,988.85. Following the completion of the transaction, the director now directly owns 26,901 shares of the company’s stock, valued at $282,729.51. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of PDC Energy in the fourth quarter worth about $26,000. NumerixS Investment Technologies Inc acquired a new position in shares of PDC Energy in the fourth quarter worth about $102,000. Marshall Wace LLP acquired a new position in shares of PDC Energy in the fourth quarter worth about $126,000. PNC Financial Services Group Inc. lifted its stake in shares of PDC Energy by 145.1% in the first quarter. PNC Financial Services Group Inc. now owns 7,359 shares of the energy producer’s stock worth $46,000 after acquiring an additional 4,357 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new position in shares of PDC Energy in the fourth quarter worth about $202,000.
NASDAQ PDCE opened at $12.00 on Wednesday. PDC Energy has a fifty-two week low of $4.51 and a fifty-two week high of $37.10. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -3.01 and a beta of 2.89. The business has a fifty day moving average of $13.44 and a 200-day moving average of $16.29. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.66.
About PDC Energy
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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