PDC Energy (NASDAQ:PDCE) – Analysts at Imperial Capital issued their FY2019 earnings per share estimates for PDC Energy in a research note issued on Tuesday, April 24th. Imperial Capital analyst I. Haas forecasts that the energy producer will post earnings of $4.05 per share for the year. Imperial Capital has a “Outperform” rating and a $87.00 price objective on the stock.
Several other research firms have also recently weighed in on PDCE. Stifel Nicolaus set a $91.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Monday. BidaskClub upgraded shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. BMO Capital Markets restated a “hold” rating and issued a $58.00 price target on shares of PDC Energy in a report on Thursday, January 11th. KeyCorp set a $65.00 price target on shares of PDC Energy and gave the stock a “buy” rating in a report on Sunday, January 21st. Finally, Stephens restated a “buy” rating and issued a $73.00 price target on shares of PDC Energy in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.16.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. PDC Energy had a negative net margin of 13.13% and a positive return on equity of 1.17%. The company had revenue of $189.52 million during the quarter, compared to analysts’ expectations of $263.28 million.
Several institutional investors have recently added to or reduced their stakes in PDCE. Schf GPE LLC bought a new position in shares of PDC Energy in the fourth quarter valued at $55,125,000. Mangrove Partners bought a new position in shares of PDC Energy in the fourth quarter valued at $46,347,000. NWQ Investment Management Company LLC lifted its stake in shares of PDC Energy by 77.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after buying an additional 727,517 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of PDC Energy by 45.0% in the fourth quarter. Earnest Partners LLC now owns 1,343,663 shares of the energy producer’s stock valued at $69,252,000 after buying an additional 416,711 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of PDC Energy by 4.5% in the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after buying an additional 374,797 shares in the last quarter.
In other PDC Energy news, EVP Lance Lauck sold 10,000 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $53.95, for a total value of $539,500.00. Following the transaction, the executive vice president now directly owns 100,228 shares of the company’s stock, valued at $5,407,300.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel Willson Amidon sold 9,114 shares of the firm’s stock in a transaction on 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 directly owns 66,611 shares in the company, valued at $3,589,000.68. The disclosure for this sale can be found here. Insiders sold 32,114 shares of company stock worth $1,715,767 over the last ninety days. Insiders own 0.91% of the company’s stock.
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PDC Energy Company Profile
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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