PDC Energy, Inc. (PDCE) to Post FY2018 Earnings of $0.72 Per Share, KeyCorp Forecasts
PDC Energy, Inc. (NASDAQ:PDCE) – Stock analysts at KeyCorp raised their FY2018 EPS estimates for PDC Energy in a research note issued on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the energy producer will earn $0.72 per share for the year, up from their prior forecast of $0.69. KeyCorp has a “Buy” rating and a $55.00 price objective on the stock.
Several other research firms have also recently commented on PDCE. Stifel Nicolaus restated a “buy” rating and set a $81.00 price target (down previously from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. Williams Capital increased their price objective on PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Barclays PLC increased their price objective on PDC Energy from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. BMO Capital Markets set a $53.00 price objective on PDC Energy and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks, Inc. set a $55.00 price objective on PDC Energy and gave the stock a “buy” rating in a research report on Sunday, October 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. PDC Energy currently has an average rating of “Hold” and a consensus price target of $69.00.
PDC Energy (NASDAQ:PDCE) traded up $0.37 during trading on Thursday, hitting $45.34. The stock had a trading volume of 467,400 shares, compared to its average volume of 1,090,093. PDC Energy has a twelve month low of $36.74 and a twelve month high of $84.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $3,010.00, a PE ratio of 115.31 and a beta of 0.82.
In other news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
Several hedge funds have recently made changes to their positions in PDCE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after buying an additional 209 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of PDC Energy in the second quarter valued at $107,000. Flinton Capital Management LLC increased its position in shares of PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of PDC Energy by 67.7% in the second quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock valued at $195,000 after buying an additional 1,828 shares in the last quarter. Finally, Connable Office Inc. purchased a new position in shares of PDC Energy in the third quarter valued at $202,000.
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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