PDC Energy, Inc. (NASDAQ:PDCE) – Equities researchers at Jefferies Group issued their Q1 2018 earnings estimates for PDC Energy in a report released on Monday. Jefferies Group analyst M. Lear expects that the energy producer will earn ($0.11) per share for the quarter. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for PDC Energy’s Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.07 EPS, FY2018 earnings at ($0.09) EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.50 EPS and FY2019 earnings at $2.00 EPS.
A number of other research analysts have also commented on PDCE. Seaport Global Securities raised PDC Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $51.00 in a report on Friday, August 11th. BMO Capital Markets set a $53.00 target price on PDC Energy and gave the company a “hold” rating in a research note on Tuesday. Barclays PLC increased their target price on PDC Energy from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho upgraded PDC Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $53.00 to $55.00 in a research note on Wednesday, August 9th. Finally, Imperial Capital assumed coverage on PDC Energy in a research note on Friday, August 18th. They set an “outperform” rating and a $66.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. PDC Energy has a consensus rating of “Hold” and a consensus target price of $69.14.
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PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.20. The firm had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. PDC Energy’s revenue for the quarter was up 1269.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS.
Hedge funds have recently added to or reduced their stakes in the stock. Phocas Financial Corp. increased its stake in shares of PDC Energy by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 171,848 shares of the energy producer’s stock valued at $7,408,000 after buying an additional 7,667 shares during the period. Piedmont Investment Advisors LLC increased its stake in shares of PDC Energy by 261.4% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 12,086 shares of the energy producer’s stock valued at $521,000 after buying an additional 8,742 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of PDC Energy by 24.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock valued at $250,000 after buying an additional 1,123 shares during the period. California State Teachers Retirement System increased its stake in shares of PDC Energy by 6.2% in the 2nd quarter. California State Teachers Retirement System now owns 117,157 shares of the energy producer’s stock valued at $5,051,000 after buying an additional 6,860 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of PDC Energy by 17.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,776 shares of the energy producer’s stock valued at $2,189,000 after buying an additional 7,639 shares during the period.
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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