PDC Energy Inc (NASDAQ:PDCE) – Analysts at KeyCorp raised their Q1 2018 earnings estimates for PDC Energy in a report released on Sunday. KeyCorp analyst D. Deckelbaum now anticipates that the energy producer will earn $0.33 per share for the quarter, up from their prior forecast of $0.32. KeyCorp currently has a “Buy” rating and a $65.00 target price on the stock. KeyCorp also issued estimates for PDC Energy’s Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $1.19 EPS and FY2019 earnings at $3.91 EPS.
A number of other research analysts have also issued reports on PDCE. Stifel Nicolaus reaffirmed a “buy” rating and set a $81.00 target price (down from $82.00) on shares of PDC Energy in a report on Tuesday, November 7th. BidaskClub lowered PDC Energy from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Williams Capital lifted their target price on PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Credit Suisse Group initiated coverage on PDC Energy in a report on Monday, December 11th. They set a “neutral” rating and a $51.00 target price on the stock. Finally, Barclays lifted their target price on PDC Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.37.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Monday, November 6th. The energy producer reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. PDC Energy had a negative net margin of 29.31% and a positive return on equity of 0.94%.
Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PDC Energy by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 209 shares in the last quarter. Flinton Capital Management LLC grew its stake in PDC Energy by 67.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after acquiring an additional 1,168 shares in the last quarter. Connable Office Inc. purchased a new position in PDC Energy during the 3rd quarter valued at about $202,000. World Asset Management Inc purchased a new position in PDC Energy during the 3rd quarter valued at about $216,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of PDC Energy during the 3rd quarter valued at about $216,000.
In other PDC Energy news, Director Jeffrey C. Swoveland sold 1,700 shares of PDC Energy stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $94,911.00. Following the transaction, the director now owns 21,519 shares of the company’s stock, valued at approximately $1,201,405.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total value of $78,120.00. Following the transaction, the chief executive officer now directly owns 168,101 shares in the company, valued at approximately $8,754,700.08. The disclosure for this sale can be found here. Insiders sold a total of 5,700 shares of company stock worth $308,961 in the last three months. 0.91% of the stock is currently owned by company insiders.
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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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