PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) – Capital One Financial boosted their Q1 2022 EPS estimates for PDC Energy in a report released on Sunday, April 10th. Capital One Financial analyst B. Velie now anticipates that the energy producer will post earnings per share of $2.96 for the quarter, up from their prior forecast 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.
Several other equities analysts also recently weighed in on PDCE. Wells Fargo & Company lifted their target price on shares of PDC Energy from $71.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, March 14th. BMO Capital Markets boosted their price objective on shares of PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a research note on Friday, March 11th. KeyCorp boosted their price objective on shares of PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, April 8th. Finally, Truist Financial boosted their price objective on shares of PDC Energy from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 14th. 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.
PDC Energy (NASDAQ:PDCE – Get Rating) last posted its earnings results on Monday, February 28th. The energy producer reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.46. The firm had revenue of $854.64 million during the quarter, compared to the consensus estimate of $691.65 million. PDC Energy had a net margin of 28.15% and a return on equity of 31.34%.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were paid a dividend of $0.25 per share. This is an increase from PDC Energy’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. PDC Energy’s dividend payout ratio (DPR) is currently 19.01%.
In related news, EVP Lance Lauck sold 4,523 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $67.44, for a total transaction of $305,031.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn A. Peterson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 18th. The shares were sold at an average price of $55.49, for a total transaction of $277,450.00. The disclosure for this sale can be found here. Insiders have sold 35,383 shares of company stock valued at $2,275,919 in the last ninety days. Insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC increased its position in shares of PDC Energy by 271.2% during the first quarter. Wedge Capital Management L L P NC now owns 414,539 shares of the energy producer’s stock valued at $30,129,000 after acquiring an additional 302,860 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in shares of PDC Energy during the first quarter valued at approximately $1,468,000. Evergreen Capital Management LLC bought a new stake in shares of PDC Energy during the fourth quarter valued at approximately $211,000. First Citizens Bank & Trust Co. increased its position in shares of PDC Energy by 5.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,074 shares of the energy producer’s stock valued at $345,000 after acquiring an additional 368 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of PDC Energy by 31.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,676,851 shares of the energy producer’s stock valued at $81,797,000 after acquiring an additional 405,088 shares in the last quarter.
About PDC Energy (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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