Capital One Financial Equities Analysts Boost Earnings Estimates for PDC Energy, Inc. (NASDAQ:PDCE)

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) – Equities research analysts at Capital One Financial upped their Q1 2022 earnings estimates for PDC Energy in a report issued on Sunday, April 10th. Capital One Financial analyst B. Velie now expects that the energy producer will post earnings per share of $2.96 for the quarter, up from their previous estimate of $2.84. Capital One Financial also issued estimates for PDC Energy’s Q2 2022 earnings at $3.71 EPS, Q3 2022 earnings at $4.22 EPS, Q4 2022 earnings at $4.67 EPS, FY2022 earnings at $15.56 EPS and FY2023 earnings at $18.35 EPS.

PDC Energy (NASDAQ:PDCEGet Rating) last issued its quarterly earnings data on Monday, February 28th. The energy producer reported $2.86 EPS for the quarter, beating the consensus estimate of $2.40 by $0.46. The company had revenue of $854.64 million during the quarter, compared to analysts’ expectations of $691.65 million. PDC Energy had a net margin of 28.15% and a return on equity of 31.34%.

Several other equities analysts have also recently commented on PDCE. StockNews.com initiated coverage on shares of PDC Energy in a research note on Thursday, March 31st. They set a “buy” rating for the company. MKM Partners lifted their target price on shares of PDC Energy from $72.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Truist Financial lifted their target price on shares of PDC Energy from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, January 14th. TheStreet upgraded shares of PDC Energy from a “c+” rating to a “b” rating in a research report on Friday, March 11th. Finally, BMO Capital Markets lifted their target price on shares of PDC Energy from $65.00 to $73.00 in a research report on Tuesday, March 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $79.44.

Shares of NASDAQ:PDCE opened at $77.49 on Tuesday. The company has a 50 day moving average of $66.31 and a 200 day moving average of $57.27. The stock has a market cap of $7.46 billion, a P/E ratio of 14.73 and a beta of 2.92. PDC Energy has a 12 month low of $32.17 and a 12 month high of $78.13. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.32.

The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were issued a dividend of $0.25 per share. This is a positive change from PDC Energy’s previous quarterly dividend of $0.12. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, March 10th. PDC Energy’s dividend payout ratio is currently 19.01%.

In other news, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $58.84, for a total value of $58,840.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $74.90, for a total transaction of $149,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,383 shares of company stock valued at $2,275,919 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in shares of PDC Energy by 55.8% during the fourth quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 183 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of PDC Energy during the third quarter valued at approximately $26,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of PDC Energy during the fourth quarter valued at approximately $37,000. Rockefeller Capital Management L.P. increased its position in shares of PDC Energy by 169.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock valued at $39,000 after acquiring an additional 509 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of PDC Energy by 258.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,019 shares of the energy producer’s stock valued at $48,000 after acquiring an additional 735 shares in the last quarter.

PDC Energy Company Profile (Get Rating)

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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