Zacks: Analysts Expect PDC Energy Inc (PDCE) to Post $0.80 EPS
Analysts expect PDC Energy Inc (NASDAQ:PDCE) to report earnings per share of $0.80 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for PDC Energy’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.55. PDC Energy reported earnings of $0.24 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 233.3%. The firm is scheduled to issue its next earnings results on Monday, February 25th.
On average, analysts expect that PDC Energy will report full-year earnings of $1.84 per share for the current fiscal year, with EPS estimates ranging from $1.64 to $2.04. For the next fiscal year, analysts forecast that the company will post earnings of $4.45 per share, with EPS estimates ranging from $3.76 to $5.80. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for PDC Energy.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Monday, November 5th. The energy producer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.11). PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business had revenue of $280.70 million for the quarter, compared to the consensus estimate of $337.69 million. During the same quarter in the previous year, the firm earned ($3.85) EPS. The firm’s revenue for the quarter was up 53.2% on a year-over-year basis.
In related news, Director Jeffrey C. Swoveland sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.17, for a total value of $224,680.00. Following the completion of the sale, the director now owns 17,454 shares of the company’s stock, valued at $980,391.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott J. Reasoner sold 1,341 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $50.43, for a total transaction of $67,626.63. Following the completion of the sale, the chief operating officer now directly owns 73,379 shares of the company’s stock, valued at approximately $3,700,502.97. The disclosure for this sale can be found here. Insiders sold 12,041 shares of company stock valued at $615,896 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PDCE. Frontier Capital Management Co. LLC lifted its holdings in PDC Energy by 72.8% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,416,006 shares of the energy producer’s stock valued at $69,328,000 after acquiring an additional 596,642 shares during the last quarter. Ferox Capital Management LP acquired a new stake in PDC Energy in the 3rd quarter valued at about $485,000. FMR LLC lifted its holdings in PDC Energy by 12.4% in the 3rd quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock valued at $186,317,000 after acquiring an additional 419,986 shares during the last quarter. Perella Weinberg Partners Capital Management LP acquired a new stake in PDC Energy in the 3rd quarter valued at about $19,931,000. Finally, Victory Capital Management Inc. lifted its holdings in PDC Energy by 12.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,564,148 shares of the energy producer’s stock valued at $174,501,000 after acquiring an additional 395,180 shares during the last quarter.
PDCE stock traded up $1.40 during trading on Wednesday, hitting $37.80. 53,009 shares of the company’s stock traded hands, compared to its average volume of 1,554,198. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.38 and a quick ratio of 0.38. PDC Energy has a 52 week low of $36.15 and a 52 week high of $66.20. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of -10.86, a PEG ratio of 0.52 and a beta of 0.66.
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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