KeyCorp Equities Analysts Raise Earnings Estimates for PDC Energy Inc (PDCE)
PDC Energy Inc (NASDAQ:PDCE) – Equities researchers at KeyCorp upped their Q4 2017 earnings per share estimates for shares of PDC Energy in a research note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the energy producer will post earnings of $0.25 per share for the quarter, up from their previous estimate of $0.20. KeyCorp has a “Buy” rating and a $65.00 price objective on the stock.
A number of other research firms have also commented on PDCE. BMO Capital Markets reaffirmed a “hold” rating and set a $58.00 price target on shares of PDC Energy in a research report on Thursday, January 11th. BidaskClub lowered PDC Energy from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of PDC Energy in a research report on Sunday, January 28th. Mizuho reaffirmed a “buy” rating and set a $66.00 price target on shares of PDC Energy in a research report on Wednesday, January 17th. Finally, ValuEngine raised PDC Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $67.05.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Monday, November 6th. The energy producer reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $232.73 million during the quarter, compared to analyst estimates of $234.38 million. PDC Energy had a positive return on equity of 0.94% and a negative net margin of 29.31%.
Several institutional investors have recently bought and sold shares of PDCE. Schf GPE LLC purchased a new stake in shares of PDC Energy in the 4th quarter worth approximately $55,125,000. Vanguard Group Inc. grew its stake in shares of PDC Energy by 13.5% in the 2nd 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 last quarter. State Street Corp grew its stake in shares of PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after buying an additional 487,816 shares during the last quarter. Precocity Capital LP purchased a new stake in shares of PDC Energy in the 3rd quarter worth approximately $21,083,000. Finally, Caymus Capital Partners L.P. grew its stake in shares of PDC Energy by 33.3% in the 3rd quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock worth $74,785,000 after buying an additional 380,900 shares during the last quarter.
In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $51.86, for a total value of $77,790.00. Following the sale, the chief executive officer now owns 173,473 shares in the company, valued at approximately $8,996,309.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now owns 21,519 shares in the company, valued at approximately $1,201,405.77. The disclosure for this sale can be found here. Insiders sold a total of 7,200 shares of company stock valued at $386,751 in the last three months. Corporate insiders own 0.91% of the company’s stock.
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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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