Brokerages Anticipate PDC Energy, Inc. (NASDAQ:PDCE) to Announce $4.62 Earnings Per Share

Wall Street brokerages expect that PDC Energy, Inc. (NASDAQ:PDCEGet Rating) will post $4.62 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for PDC Energy’s earnings. The lowest EPS estimate is $3.10 and the highest is $5.91. PDC Energy reported earnings of $1.66 per share in the same quarter last year, which would suggest a positive year over year growth rate of 178.3%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that PDC Energy will report full-year earnings of $17.84 per share for the current year, with EPS estimates ranging from $13.31 to $22.98. For the next financial year, analysts forecast that the business will post earnings of $19.40 per share, with EPS estimates ranging from $12.62 to $26.66. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PDC Energy.

PDC Energy (NASDAQ:PDCEGet Rating) last released its earnings results on Wednesday, May 4th. The energy producer reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.73. PDC Energy had a return on equity of 38.99% and a net margin of 26.48%. The firm had revenue of $316.45 million during the quarter, compared to analysts’ expectations of $702.98 million. During the same quarter last year, the business posted $1.41 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis.

Several analysts recently issued reports on the company. StockNews.com initiated coverage on PDC Energy in a research report on Thursday, March 31st. They set a “buy” rating for the company. KeyCorp increased their price target on PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, April 8th. TheStreet lowered PDC Energy from a “b” rating to a “c+” rating in a research note on Wednesday, May 4th. BMO Capital Markets increased their price target on PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. Finally, TD Securities increased their price target on PDC Energy from $85.00 to $95.00 and gave the company 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $81.78.

Shares of NASDAQ:PDCE traded up $6.24 during trading on Friday, hitting $77.99. 1,670,595 shares of the company’s stock were exchanged, compared to its average volume of 1,400,924. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.58 and a quick ratio of 0.58. PDC Energy has a 52-week low of $34.52 and a 52-week high of $79.39. The business’s 50-day simple moving average is $71.95 and its 200 day simple moving average is $61.85. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 15.54 and a beta of 2.75.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.28%. This is a positive change from PDC Energy’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 10th. PDC Energy’s dividend payout ratio (DPR) is presently 19.92%.

In other news, SVP David Lillo sold 10,610 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $70.46, for a total value of $747,580.60. Following the sale, the senior vice president now directly owns 57,743 shares in the company, valued at $4,068,571.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $66.78, for a total value of $133,560.00. The disclosure for this sale can be found here. Insiders sold a total of 56,421 shares of company stock valued at $3,871,704 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP raised its holdings in shares of PDC Energy by 4,577.0% in the fourth quarter. Royce & Associates LP now owns 258,266 shares of the energy producer’s stock worth $12,598,000 after buying an additional 252,744 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of PDC Energy in the fourth quarter worth approximately $4,423,000. Citigroup Inc. increased its holdings in PDC Energy by 20.0% during the 4th quarter. Citigroup Inc. now owns 175,595 shares of the energy producer’s stock worth $8,566,000 after purchasing an additional 29,323 shares during the period. GSA Capital Partners LLP purchased a new position in PDC Energy during the 4th quarter worth $1,219,000. Finally, First Trust Advisors LP increased its holdings in PDC Energy by 223.8% during the 4th quarter. First Trust Advisors LP now owns 820,470 shares of the energy producer’s stock worth $40,023,000 after purchasing an additional 567,065 shares during the period.

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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