PDC Energy Inc (NASDAQ:PDCE) – Investment analysts at Imperial Capital cut their Q2 2019 earnings per share estimates for shares of PDC Energy in a research note issued on Thursday, July 18th. Imperial Capital analyst I. Haas now expects that the energy producer will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.62. Imperial Capital currently has a “Outperform” rating and a $68.00 target price on the stock.
Several other research firms also recently weighed in on PDCE. Zacks Investment Research downgraded shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Williams Capital set a $30.00 price target on shares of Mdu Resources Group and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Co cut shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, May 20th. ValuEngine cut shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $58.17.
NASDAQ:PDCE opened at $29.77 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day simple moving average is $32.68. PDC Energy has a twelve month low of $26.59 and a twelve month high of $64.66. The stock has a market cap of $1.95 billion, a P/E ratio of -10.06, a P/E/G ratio of 0.53 and a beta of 1.14.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, May 1st. The energy producer reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.29). PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The company had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $325.83 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year.
In related news, Director Mark E. Ellis bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $37.30 per share, with a total value of $373,000.00. Following the completion of the transaction, the director now owns 17,752 shares of the company’s stock, valued at $662,149.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in PDCE. California State Teachers Retirement System lifted its position in PDC Energy by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 103,524 shares of the energy producer’s stock valued at $3,081,000 after buying an additional 2,107 shares in the last quarter. Geode Capital Management LLC lifted its position in PDC Energy by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 736,641 shares of the energy producer’s stock valued at $21,921,000 after buying an additional 48,261 shares in the last quarter. Two Sigma Advisers LP acquired a new position in PDC Energy during the fourth quarter valued at approximately $652,000. Squarepoint Ops LLC lifted its position in PDC Energy by 702.1% during the fourth quarter. Squarepoint Ops LLC now owns 66,119 shares of the energy producer’s stock valued at $1,968,000 after buying an additional 57,876 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in PDC Energy during the fourth quarter valued at approximately $251,000.
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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