Brokerages forecast that PDC Energy Inc (NASDAQ:PDCE) will announce sales of $333.35 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for PDC Energy’s earnings, with estimates ranging from $324.00 million to $339.10 million. PDC Energy reported sales of $794.81 million in the same quarter last year, which indicates a negative year-over-year growth rate of 58.1%. The firm is scheduled 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 sales of $1.25 billion for the current financial year, with estimates ranging from $1.23 billion to $1.30 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.08 billion, with estimates ranging from $2.02 billion to $2.10 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover PDC Energy.
Several equities research analysts have commented on PDCE shares. Zacks Investment Research downgraded PDC Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 12th. KeyCorp reduced their price objective on PDC Energy from $41.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Citigroup started coverage on PDC Energy in a research report on Friday, February 14th. They set a “buy” rating and a $35.00 price target for the company. Barclays reiterated a “buy” rating and set a $35.00 price objective on shares of PDC Energy in a research note on Tuesday, November 26th. Finally, Tudor Pickering upgraded PDC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.33.
Several hedge funds and other institutional investors have recently bought and sold shares of PDCE. Mason Street Advisors LLC boosted its position in PDC Energy by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 20,512 shares of the energy producer’s stock worth $537,000 after purchasing an additional 516 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of PDC Energy in the fourth quarter valued at approximately $26,000. ProShare Advisors LLC increased its stake in shares of PDC Energy by 15.7% in the fourth quarter. ProShare Advisors LLC now owns 10,015 shares of the energy producer’s stock valued at $262,000 after buying an additional 1,357 shares during the period. Shufro Rose & Co. LLC increased its stake in shares of PDC Energy by 10.6% in the third quarter. Shufro Rose & Co. LLC now owns 15,700 shares of the energy producer’s stock valued at $436,000 after buying an additional 1,500 shares during the period. Finally, Blueshift Asset Management LLC boosted its holdings in PDC Energy by 24.2% in the fourth quarter. Blueshift Asset Management LLC now owns 9,145 shares of the energy producer’s stock valued at $239,000 after acquiring an additional 1,783 shares during the last quarter.
Shares of PDCE traded down $0.34 during mid-day trading on Friday, hitting $22.39. 1,150,350 shares of the company’s stock traded hands, compared to its average volume of 1,755,194. 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 has a 1 year low of $19.57 and a 1 year high of $47.29. The firm has a market capitalization of $1.38 billion, a P/E ratio of 10.27, a PEG ratio of 0.39 and a beta of 1.28. The business’s 50-day moving average price is $23.26 and its 200-day moving average price is $25.44.
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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