Brokerages Anticipate PDC Energy Inc (NASDAQ:PDCE) Will Announce Earnings of $0.46 Per Share

Wall Street analysts expect that PDC Energy Inc (NASDAQ:PDCE) will report earnings of $0.46 per share for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for PDC Energy’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.21. PDC Energy posted earnings of $0.56 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 17.9%. The firm is expected to announce its next earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that PDC Energy will report full-year earnings of $1.99 per share for the current year, with EPS estimates ranging from $1.12 to $2.75. For the next financial year, analysts forecast that the firm will post earnings of $3.76 per share, with EPS estimates ranging from $1.74 to $6.81. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover PDC Energy.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, May 1st. The energy producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.29). The business had revenue of $134.50 million during the quarter, compared to analyst estimates of $325.83 million. PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share.

Several analysts have recently commented on the company. BMO Capital Markets assumed coverage on Victoria Gold in a report on Thursday, July 11th. They issued an “outperform” rating for the company. Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Bank of America set a $54.00 price target on shares of Fortis and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Imperial Capital reissued an “in-line” rating and set a $29.00 price target (down from $33.00) on shares of Whiting Petroleum in a research report on Friday, May 3rd. Finally, BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.17.

In other PDC Energy news, Director Mark E. Ellis purchased 10,000 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $37.30 per share, for a total transaction of $373,000.00. Following the purchase, the director now owns 17,752 shares of the company’s stock, valued at $662,149.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Arizona State Retirement System increased its stake in PDC Energy by 0.3% in the 1st quarter. Arizona State Retirement System now owns 102,042 shares of the energy producer’s stock valued at $4,151,000 after buying an additional 280 shares during the last quarter. Shufro Rose & Co. LLC increased its stake in PDC Energy by 2.9% in the 2nd quarter. Shufro Rose & Co. LLC now owns 14,200 shares of the energy producer’s stock valued at $512,000 after buying an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in PDC Energy by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,592 shares of the energy producer’s stock valued at $1,041,000 after buying an additional 462 shares during the last quarter. Versant Capital Management Inc increased its stake in PDC Energy by 47.0% in the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after buying an additional 520 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in PDC Energy by 0.3% in the 4th quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock valued at $4,928,000 after buying an additional 521 shares during the last quarter.

Shares of PDCE traded up $0.41 during mid-day trading on Wednesday, hitting $28.85. The company’s stock had a trading volume of 77,895 shares, compared to its average volume of 1,189,230. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average of $32.13. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -9.72, a P/E/G ratio of 0.56 and a beta of 1.14. PDC Energy has a 1-year low of $26.45 and a 1-year high of $64.66.

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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