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

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

Several other brokerages have also recently issued reports on PDCE. KLR Group reiterated a “buy” rating and issued a $84.00 price objective on shares of PDC Energy in a research note on Monday, August 20th. Jefferies Financial Group set a $86.00 price objective on PDC Energy and gave the company a “buy” rating in a research note on Thursday, July 19th. ValuEngine cut PDC Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Oppenheimer started coverage on PDC Energy in a research note on Wednesday, October 3rd. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $71.15.

Shares of PDCE opened at $44.99 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.38 and a quick ratio of 0.36. The stock has a market capitalization of $3.28 billion, a PE ratio of 37.33, a P/E/G ratio of 0.59 and a beta of 0.66. PDC Energy has a 1 year low of $40.62 and a 1 year high of $66.20.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDCE. Frontier Capital Management Co. LLC increased its position in PDC Energy by 72.8% during the third quarter. Frontier Capital Management Co. LLC now owns 1,416,006 shares of the energy producer’s stock worth $69,328,000 after buying an additional 596,642 shares during the period. FMR LLC increased its position in PDC Energy by 12.4% during the third quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock worth $186,317,000 after buying an additional 419,986 shares during the period. Perella Weinberg Partners Capital Management LP acquired a new position in PDC Energy during the third quarter worth approximately $19,931,000. Victory Capital Management Inc. increased its position in PDC Energy by 12.5% during the third quarter. Victory Capital Management Inc. now owns 3,564,148 shares of the energy producer’s stock worth $174,501,000 after buying an additional 395,180 shares during the period. Finally, Oslo Asset Management AS increased its holdings in shares of PDC Energy by 71.5% in the third quarter. Oslo Asset Management AS now owns 591,969 shares of the energy producer’s stock valued at $28,983,000 after purchasing an additional 246,700 shares during the period.

In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $45.00, for a total transaction of $67,500.00. Following the transaction, the insider now owns 200,526 shares of the company’s stock, valued at $9,023,670. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Scott J. Reasoner sold 1,341 shares of PDC Energy stock in a transaction that occurred on Monday, October 15th. The stock was 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 in the company, valued at approximately $3,700,502.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,941 shares of company stock valued at $619,665. 1.00% of the stock is owned by company insiders.

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

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