PDC Energy (PDCE) Forecasted to Earn FY2018 Earnings of $2.38 Per Share
PDC Energy (NASDAQ:PDCE) – Capital One Financial cut their FY2018 earnings per share estimates for PDC Energy in a report issued on Thursday, April 12th. Capital One Financial analyst B. Velie now expects that the energy producer will post earnings of $2.38 per share for the year, down from their prior forecast of $2.39.
PDCE has been the topic of a number of other reports. BidaskClub cut shares of PDC Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 18th. Zacks Investment Research raised shares of PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, February 9th. Goldman Sachs raised shares of PDC Energy from a “neutral” rating to a “buy” rating in a report on Thursday, April 12th. ValuEngine cut shares of PDC Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Mizuho reissued a “buy” rating and set a $66.00 target price on shares of PDC Energy in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $67.06.
PDC Energy (NASDAQ:PDCE) last issued its earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $189.52 million for the quarter, compared to analysts’ expectations of $263.28 million. PDC Energy had a negative net margin of 13.13% and a positive return on equity of 1.17%.
In related news, EVP Lance Lauck sold 10,000 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $53.95, for a total value of $539,500.00. Following the completion of the transaction, the executive vice president now owns 100,228 shares in the company, valued at approximately $5,407,300.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel Willson Amidon sold 9,114 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $53.88, for a total transaction of $491,062.32. Following the completion of the transaction, the senior vice president now owns 66,611 shares of the company’s stock, valued at approximately $3,589,000.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,614 shares of company stock worth $1,634,517. Corporate insiders own 0.91% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PDCE. MHI Funds LLC bought a new position in PDC Energy in the 4th quarter valued at about $138,000. First Mercantile Trust Co. grew its position in PDC Energy by 93.3% in the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after buying an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PDC Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after buying an additional 1,201 shares in the last quarter. ETRADE Capital Management LLC bought a new position in PDC Energy in the 4th quarter valued at about $212,000. Finally, Jane Street Group LLC bought a new position in PDC Energy in the 4th quarter valued at about $212,000.
About PDC Energy
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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