SunTrust Banks Brokers Reduce Earnings Estimates for PDC Energy, Inc. (NASDAQ:PDCE)
PDC Energy, Inc. (NASDAQ:PDCE) – Investment analysts at SunTrust Banks dropped their Q3 2017 earnings per share estimates for PDC Energy in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now anticipates that the energy producer will earn $0.02 per share for the quarter, down from their previous forecast of $0.05. SunTrust Banks also issued estimates for PDC Energy’s Q4 2017 earnings at $0.06 EPS, FY2017 earnings at $0.21 EPS, FY2018 earnings at $0.29 EPS, FY2019 earnings at $0.51 EPS and FY2020 earnings at $2.23 EPS.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus restated a “buy” rating and issued a $82.00 target price on shares of PDC Energy in a research report on Friday, May 26th. Royal Bank Of Canada restated a “buy” rating and issued a $82.00 target price on shares of PDC Energy in a research report on Tuesday, April 25th. Williams Capital decreased their target price on PDC Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. Barclays PLC restated a “buy” rating and issued a $80.00 target price (down previously from $89.00) on shares of PDC Energy in a research report on Thursday, April 20th. Finally, Bank of America Corporation started coverage on PDC Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. PDC Energy currently has an average rating of “Hold” and an average price target of $71.86.
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Shares of PDC Energy (NASDAQ PDCE) opened at 40.37 on Friday. PDC Energy has a 1-year low of $38.54 and a 1-year high of $84.88. The firm has a 50-day moving average price of $44.00 and a 200-day moving average price of $56.69. The company has a market cap of $2.66 billion, a P/E ratio of 286.31 and a beta of 0.81.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The business had revenue of $275.20 million for the quarter, compared to the consensus estimate of $218.90 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The company’s revenue was up 1269.2% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. Flinton Capital Management LLC boosted its stake in PDC Energy by 19.8% in the first quarter. Flinton Capital Management LLC now owns 1,744 shares of the energy producer’s stock valued at $109,000 after buying an additional 288 shares during the period. Invictus RG boosted its stake in PDC Energy by 11.2% in the first quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock valued at $134,000 after buying an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PDC Energy by 42.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,186 shares of the energy producer’s stock valued at $136,000 after buying an additional 649 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in PDC Energy during the first quarter valued at about $147,000. Finally, Meadow Creek Investment Management LLC boosted its stake in PDC Energy by 19.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,398 shares of the energy producer’s stock valued at $150,000 after buying an additional 396 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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