PDC Energy, Inc. (NASDAQ:PDCE) – Investment analysts at Capital One Financial Corporation lifted their Q3 2017 earnings per share estimates for shares of PDC Energy in a note issued to investors on Tuesday. Capital One Financial Corporation analyst B. Velie now anticipates that the energy producer will post earnings of $0.08 per share for the quarter, up from their prior estimate of $0.07. Capital One Financial Corporation also issued estimates for PDC Energy’s FY2017 earnings at $0.29 EPS.
Other research analysts have also issued research reports about the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $82.00 price objective on shares of PDC Energy in a research note on Tuesday, April 25th. Williams Capital set a $67.00 price target on shares of PDC Energy and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Seaport Global Securities upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $51.00 in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $82.00 price target on shares of PDC Energy in a research note on Tuesday, April 25th. Finally, Barclays PLC restated a “buy” rating and set a $80.00 price target (down previously from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.09.
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PDC Energy (PDCE) opened at 40.72 on Friday. The company’s 50 day moving average is $43.95 and its 200 day moving average is $56.44. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 288.79 and a beta of 0.81. PDC Energy has a 12-month low of $38.54 and a 12-month high of $84.88.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.20. The business had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The business’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) EPS.
Hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of PDC Energy by 4.7% in the first quarter. FMR LLC now owns 7,431,171 shares of the energy producer’s stock worth $463,333,000 after buying an additional 330,814 shares during the period. BlackRock Inc. increased its stake in shares of PDC Energy by 5.5% in the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock worth $313,529,000 after buying an additional 381,958 shares during the period. Vanguard Group Inc. increased its stake in shares of PDC Energy by 13.5% in the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after buying an additional 677,329 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of PDC Energy by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock worth $160,110,000 after buying an additional 328,518 shares during the period. Finally, Causeway Capital Management LLC increased its stake in shares of PDC Energy by 54.1% in the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock worth $234,496,000 after buying an additional 1,154,136 shares during the period.
About PDC Energy
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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