Q2 2018 EPS Estimates for PDC Energy Inc (PDCE) Boosted by Analyst
PDC Energy Inc (NASDAQ:PDCE) – Analysts at Jefferies Group upped their Q2 2018 earnings estimates for PDC Energy in a report released on Wednesday. Jefferies Group analyst M. Lear now expects that the energy producer will earn $0.39 per share for the quarter, up from their prior forecast of $0.27. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for PDC Energy’s FY2018 earnings at $1.69 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $0.83 EPS and FY2019 earnings at $3.30 EPS.
A number of other equities analysts also recently issued reports on PDCE. BMO Capital Markets reaffirmed a “hold” rating and set a $48.00 price target on shares of PDC Energy in a research report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and set a $50.00 price target on shares of PDC Energy in a research report on Tuesday, September 19th. Stifel Nicolaus set a $69.00 target price on PDC Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Barclays upped their target price on PDC Energy from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Finally, Williams Capital upped their target price on PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.60.
PDC Energy (NASDAQ:PDCE) opened at $50.21 on Monday. The stock has a market capitalization of $3,213.93, a price-to-earnings ratio of -12.37 and a beta of 0.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy has a 12-month low of $36.74 and a 12-month high of $78.61.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its holdings in PDC Energy by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 293,037 shares of the energy producer’s stock valued at $12,633,000 after acquiring an additional 17,065 shares during the last quarter. Arizona State Retirement System raised its holdings in PDC Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock valued at $1,259,000 after acquiring an additional 100 shares during the last quarter. Rhumbline Advisers raised its holdings in PDC Energy by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after acquiring an additional 10,360 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PDC Energy by 10.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,487,852 shares of the energy producer’s stock worth $64,142,000 after buying an additional 141,570 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of PDC Energy by 12.1% during the 2nd quarter. Legal & General Group Plc now owns 112,008 shares of the energy producer’s stock worth $4,828,000 after buying an additional 12,072 shares during the last quarter.
In other news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $49.64, for a total transaction of $49,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.
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About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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