PDC Energy Inc (NASDAQ:PDCE) – Stock analysts at Oppenheimer decreased their Q4 2019 earnings per share estimates for PDC Energy in a research note issued on Monday, November 11th. Oppenheimer analyst T. Rezvan now expects that the energy producer will post earnings of $0.40 per share for the quarter, down from their prior estimate of $0.49. Oppenheimer also issued estimates for PDC Energy’s Q1 2020 earnings at $0.84 EPS, Q3 2020 earnings at $1.01 EPS and Q4 2020 earnings at $1.05 EPS.
A number of other research firms have also recently weighed in on PDCE. Stifel Nicolaus increased their price target on PDC Energy from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Co increased their target price on PDC Energy from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays began coverage on PDC Energy in a research note on Friday, August 30th. They set an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research lowered PDC Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Wolfe Research raised PDC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.72.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, November 6th. The energy producer reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.69). The business had revenue of $365.94 million for the quarter, compared to analysts’ expectations of $325.37 million. PDC Energy had a negative return on equity of 5.40% and a net margin of 8.49%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share.
In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $35.09, for a total value of $52,635.00. Following the sale, the director now owns 22,130 shares of the company’s stock, valued at approximately $776,541.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. CSat Investment Advisory L.P. acquired a new stake in shares of PDC Energy during the 2nd quarter worth about $120,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PDC Energy during the 2nd quarter worth about $230,000. Fox Run Management L.L.C. acquired a new stake in shares of PDC Energy during the 2nd quarter worth about $264,000. Tower Research Capital LLC TRC raised its position in shares of PDC Energy by 111,462.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,925 shares of the energy producer’s stock worth $322,000 after acquiring an additional 8,917 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of PDC Energy during the 3rd quarter worth about $394,000.
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. 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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