Analysts Anticipate PDC Energy, Inc. (NASDAQ:PDCE) Will Post Earnings of $1.45 Per Share

Equities research analysts expect PDC Energy, Inc. (NASDAQ:PDCE) to announce earnings of $1.45 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for PDC Energy’s earnings. The lowest EPS estimate is $1.01 and the highest is $1.67. PDC Energy posted earnings of $1.04 per share during the same quarter last year, which would indicate a positive year over year growth rate of 39.4%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that PDC Energy will report full-year earnings of $5.99 per share for the current fiscal year, with EPS estimates ranging from $5.21 to $6.41. For the next year, analysts forecast that the business will report earnings of $6.96 per share, with EPS estimates ranging from $5.00 to $8.35. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow PDC Energy.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Wednesday, August 4th. The energy producer reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.47. The business had revenue of $229.00 million for the quarter, compared to analysts’ expectations of $475.59 million. PDC Energy had a positive return on equity of 20.28% and a negative net margin of 12.81%. The firm’s quarterly revenue was up 321.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS.

PDCE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on PDC Energy from $51.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 14th. TD Securities upped their price target on PDC Energy from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Truist Securities upped their price target on PDC Energy from $55.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. Wells Fargo & Company increased their target price on PDC Energy from $51.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 19th. Finally, KeyCorp increased their price objective on PDC Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, July 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $49.50.

In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $39.29, for a total transaction of $78,580.00. Following the transaction, the chief executive officer now owns 361,082 shares of the company’s stock, valued at $14,186,911.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank acquired a new stake in shares of PDC Energy during the 2nd quarter valued at approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of PDC Energy during the 2nd quarter valued at approximately $29,000. Advisors Asset Management Inc. acquired a new stake in shares of PDC Energy during the 2nd quarter valued at approximately $30,000. Parkside Financial Bank & Trust lifted its position in shares of PDC Energy by 142.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 925 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 543 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of PDC Energy during the 1st quarter valued at approximately $37,000.

Shares of NASDAQ PDCE traded up $3.20 during midday trading on Wednesday, hitting $44.33. 21,730 shares of the company’s stock were exchanged, compared to its average volume of 948,573. The business’s fifty day moving average price is $40.38 and its two-hundred day moving average price is $40.08. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -32.83 and a beta of 3.44. PDC Energy has a 12-month low of $10.60 and a 12-month high of $49.92. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.50.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Stockholders of record on Wednesday, September 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Tuesday, September 7th. PDC Energy’s payout ratio is currently 23.65%.

PDC Energy Company Profile

PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are 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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