Wall Street brokerages predict that PDC Energy Inc (NASDAQ:PDCE) will announce $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for PDC Energy’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.27. PDC Energy reported earnings of ($2.22) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 116.2%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, February 26th.
According to Zacks, analysts expect that PDC Energy will report full year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.51 to $0.67. For the next year, analysts anticipate that the firm will post earnings of $2.40 per share, with EPS estimates ranging from $1.92 to $2.86. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for PDC Energy.
Several research analysts recently weighed in on the stock. Tudor Pickering raised shares of PDC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Barclays reissued a “buy” rating and set a $35.00 price objective on shares of PDC Energy in a research note on Tuesday, November 26th. Wells Fargo & Co reduced their price objective on shares of PDC Energy from $51.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, January 9th. Cfra raised shares of PDC Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup assumed coverage on shares of PDC Energy in a research note on Friday, February 14th. They set a “buy” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. PDC Energy has a consensus rating of “Buy” and an average price target of $47.33.
A number of institutional investors and hedge funds have recently made changes to their positions in PDCE. Barclays PLC lifted its stake in PDC Energy by 1,058.2% in the third quarter. Barclays PLC now owns 1,647,999 shares of the energy producer’s stock valued at $45,732,000 after buying an additional 1,505,711 shares in the last quarter. Millennium Management LLC bought a new position in PDC Energy in the third quarter valued at approximately $25,886,000. State Street Corp lifted its stake in PDC Energy by 30.6% in the fourth quarter. State Street Corp now owns 3,839,025 shares of the energy producer’s stock valued at $100,467,000 after buying an additional 899,129 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in PDC Energy by 3,510.4% in the third quarter. Point72 Asset Management L.P. now owns 434,040 shares of the energy producer’s stock valued at $12,045,000 after buying an additional 422,018 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in PDC Energy in the fourth quarter valued at approximately $9,657,000.
PDC Energy stock traded down $0.34 during midday trading on Friday, hitting $22.39. 1,150,350 shares of the stock were exchanged, compared to its average volume of 1,755,194. The company has a fifty day simple moving average of $23.26 and a two-hundred day simple moving average of $25.44. PDC Energy has a 52 week low of $19.57 and a 52 week high of $47.29. The stock has a market capitalization of $1.38 billion, a PE ratio of 10.27, a P/E/G ratio of 0.39 and a beta of 1.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.54.
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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