FY2017 EPS Estimates for PDC Energy Inc (PDCE) Boosted by Analyst
PDC Energy Inc (NASDAQ:PDCE) – Equities researchers at SunTrust Banks lifted their FY2017 earnings per share (EPS) estimates for shares of PDC Energy in a research note issued on Monday. SunTrust Banks analyst W. Fitzpatrick now anticipates that the energy producer will post earnings per share of ($3.46) for the year, up from their previous forecast of ($3.57). SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for PDC Energy’s Q4 2017 earnings at $0.27 EPS, Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.68 EPS and FY2018 earnings at $2.01 EPS.
Several other brokerages have also issued reports on PDCE. Stifel Nicolaus reiterated a “buy” rating and issued a $81.00 price target (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. Williams Capital lifted their price target on shares of PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $55.00 price target on shares of PDC Energy in a research note on Tuesday, September 26th. Barclays lifted their price target on shares of PDC Energy from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets set a $53.00 price target on shares of PDC Energy and gave the company a “hold” rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company’s stock. PDC Energy has a consensus rating of “Hold” and an average price target of $68.18.
Shares of PDC Energy (NASDAQ:PDCE) opened at $44.56 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. PDC Energy has a 52 week low of $36.74 and a 52 week high of $81.87. The stock has a market cap of $2,990.63, a price-to-earnings ratio of 116.41 and a beta of 0.80.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in PDC Energy by 5.5% in the 2nd quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after buying an additional 381,958 shares during the last quarter. Vanguard Group Inc. grew its stake in PDC Energy by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after buying an additional 677,329 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in PDC Energy by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock valued at $160,110,000 after buying an additional 328,518 shares during the last quarter. Victory Capital Management Inc. grew its stake in PDC Energy by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,018,289 shares of the energy producer’s stock valued at $147,987,000 after buying an additional 42,425 shares during the last quarter. Finally, State Street Corp grew its stake in PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after buying an additional 487,816 shares during the last quarter.
In other news, COO Scott J. Reasoner sold 1,000 shares of the business’s 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 link. 0.91% of the stock is owned by insiders.
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PDC Energy Company Profile
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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