PDC Energy Inc (NASDAQ:PDCE) – Analysts at Seaport Global Securities boosted their Q2 2019 earnings per share (EPS) estimates for PDC Energy in a note issued to investors on Monday, August 27th. Seaport Global Securities analyst M. Kelly now expects that the energy producer will post earnings per share of $1.09 for the quarter, up from their prior forecast of $1.07. Seaport Global Securities also issued estimates for PDC Energy’s Q4 2019 earnings at $1.19 EPS.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, August 8th. The energy producer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The firm had revenue of $212.53 million for the quarter, compared to analyst estimates of $308.73 million. PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The company’s revenue for the quarter was down 22.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of PDC Energy from $70.00 to $72.00 and gave the company a “$60.95” rating in a report on Monday, July 23rd. Jefferies Financial Group set a $86.00 price target on shares of PDC Energy and gave the company a “buy” rating in a report on Friday, July 13th. TD Securities initiated coverage on shares of PDC Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $80.00 price target on the stock. BidaskClub cut shares of PDC Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 3rd. Finally, ValuEngine raised shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $72.16.

PDCE opened at $54.97 on Wednesday. The firm has a market capitalization of $3.58 billion, a P/E ratio of -15.80, a P/E/G ratio of 0.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.36. PDC Energy has a 12-month low of $37.15 and a 12-month high of $66.20.

In related news, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $62.57, for a total value of $93,855.00. Following the completion of the transaction, the insider now owns 205,026 shares in the company, valued at approximately $12,828,476.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Parke sold 600 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $53.03, for a total transaction of $31,818.00. Following the completion of the transaction, the director now owns 13,341 shares of the company’s stock, valued at approximately $707,473.23. The disclosure for this sale can be found here. Insiders sold a total of 12,100 shares of company stock valued at $730,663 in the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. bought a new position in PDC Energy in the 1st quarter valued at about $107,000. Russell Investments Group Ltd. acquired a new stake in PDC Energy in the 1st quarter valued at about $192,000. Pitcairn Co. acquired a new stake in PDC Energy in the 1st quarter valued at about $205,000. Dubuque Bank & Trust Co. lifted its holdings in PDC Energy by 31.8% in the 1st quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock valued at $219,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in PDC Energy by 994.8% in the 1st quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock valued at $228,000 after acquiring an additional 4,228 shares during the last quarter.

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

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