PDC Energy (PDCE) Scheduled to Post Earnings on Wednesday

PDC Energy (NASDAQ:PDCEGet Rating) is scheduled to be releasing its earnings data after the market closes on Wednesday, May 4th. Analysts expect PDC Energy to post earnings of $2.93 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

PDC Energy (NASDAQ:PDCEGet Rating) last issued its earnings results on Monday, February 28th. The energy producer reported $2.86 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.46. The firm had revenue of $854.64 million for the quarter, compared to analyst estimates of $691.65 million. PDC Energy had a return on equity of 31.34% and a net margin of 28.15%. On average, analysts expect PDC Energy to post $17 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Shares of NASDAQ PDCE opened at $69.41 on Wednesday. The business’s 50 day moving average price is $69.48 and its 200 day moving average price is $59.22. The firm has a market cap of $6.69 billion, a P/E ratio of 13.20 and a beta of 2.92. PDC Energy has a 52 week low of $34.52 and a 52 week high of $79.39. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.32.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. This is a positive change from PDC Energy’s previous quarterly dividend of $0.12. PDC Energy’s dividend payout ratio is currently 19.01%.

A number of research analysts have issued reports on the company. KeyCorp boosted their price target on PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, April 8th. BMO Capital Markets boosted their price target on PDC Energy from $65.00 to $73.00 in a report on Tuesday, March 1st. Truist Financial upped their target price on PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. TheStreet raised PDC Energy from a “c+” rating to a “b” rating in a research note on Friday, March 11th. Finally, TD Securities upped their target price on PDC Energy from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PDC Energy has a consensus rating of “Buy” and an average price target of $81.78.

In related news, CFO R Scott Meyers sold 1,000 shares of the stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $58.84, for a total transaction of $58,840.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn A. Peterson sold 5,000 shares of the stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $58.10, for a total value of $290,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,383 shares of company stock valued at $1,998,469. 0.97% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in PDC Energy by 763.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,969 shares of the energy producer’s stock worth $2,828,000 after purchasing an additional 51,255 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in PDC Energy by 579.6% during the fourth quarter. Glenmede Trust Co. NA now owns 54,036 shares of the energy producer’s stock worth $2,635,000 after purchasing an additional 46,085 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in PDC Energy by 6.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 631,410 shares of the energy producer’s stock worth $30,801,000 after purchasing an additional 39,219 shares during the last quarter. Barclays PLC raised its holdings in PDC Energy by 24.6% during the fourth quarter. Barclays PLC now owns 132,811 shares of the energy producer’s stock worth $6,479,000 after purchasing an additional 26,187 shares during the last quarter. Finally, Qtron Investments LLC acquired a new position in PDC Energy during the fourth quarter worth $422,000.

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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Earnings History for PDC Energy (NASDAQ:PDCE)

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