Capital One Financial Weighs in on PDC Energy Inc’s FY2019 Earnings (PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Research analysts at Capital One Financial raised their FY2019 earnings estimates for shares of PDC Energy in a research note issued to investors on Tuesday, November 6th. Capital One Financial analyst B. Velie now forecasts that the energy producer will earn $4.40 per share for the year, up from their previous estimate of $4.39.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Monday, November 5th. The energy producer reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The company had revenue of $280.70 million during the quarter, compared to the consensus estimate of $337.69 million. PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The firm’s revenue was up 53.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($3.85) earnings per share.

Several other research firms have also recently weighed in on PDCE. KLR Group reissued a “buy” rating and issued a $84.00 price target on shares of PDC Energy in a report on Monday, August 20th. Jefferies Financial Group set a $86.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a report on Thursday, July 19th. ValuEngine cut shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Oppenheimer started coverage on shares of PDC Energy in a report on Wednesday, October 3rd. They set a “market perform” rating on the stock. Finally, Zacks Investment Research raised shares of PDC Energy from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, August 1st. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. PDC Energy has an average rating of “Buy” and a consensus target price of $71.25.

PDC Energy stock opened at $49.65 on Thursday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -14.27, a P/E/G ratio of 0.55 and a beta of 0.66. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 0.53. PDC Energy has a twelve month low of $40.62 and a twelve month high of $66.20.

In related news, COO Scott J. Reasoner sold 1,341 shares of PDC Energy stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $50.43, for a total value of $67,626.63. Following the transaction, the chief operating officer now directly owns 73,379 shares of the company’s stock, valued at $3,700,502.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $45.00, for a total transaction of $67,500.00. Following the completion of the transaction, the insider now directly owns 200,526 shares in the company, valued at $9,023,670. The disclosure for this sale can be found here. Insiders sold 11,941 shares of company stock worth $619,665 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in PDC Energy in the second quarter valued at approximately $373,000. Quantitative Systematic Strategies LLC acquired a new stake in PDC Energy in the second quarter valued at approximately $914,000. Schwab Charles Investment Management Inc. boosted its position in PDC Energy by 7.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 440,205 shares of the energy producer’s stock valued at $26,611,000 after buying an additional 31,274 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in PDC Energy in the second quarter valued at approximately $8,470,000. Finally, FMR LLC boosted its position in PDC Energy by 7.9% in the second quarter. FMR LLC now owns 3,385,504 shares of the energy producer’s stock valued at $204,653,000 after buying an additional 246,713 shares in the last quarter.

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.

Recommended Story: How are the companies in the S&P 500 selected?

Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply