Equities analysts expect that PDC Energy Inc (NASDAQ:PDCE) will post sales of $257.98 million for the current quarter, according to Zacks. Seven analysts have issued estimates for PDC Energy’s earnings. The highest sales estimate is $270.60 million and the lowest is $235.10 million. PDC Energy posted sales of $108.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 138.6%. The firm is expected to report its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that PDC Energy will report full year sales of $257.98 million for the current year, with estimates ranging from $911.00 million to $1.03 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.17 billion per share, with estimates ranging from $997.90 million to $1.28 billion. Zacks’ sales averages are an average based on a survey of analysts that cover PDC Energy.
Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on PDC Energy from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, December 13th. Williams Capital lowered their target price on PDC Energy from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, December 12th. KeyCorp restated a “buy” rating and set a $55.00 target price on shares of PDC Energy in a report on Tuesday, September 26th. BidaskClub upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Friday. Finally, Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of PDC Energy in a report on Monday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. PDC Energy currently has an average rating of “Buy” and a consensus target price of $66.60.
In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.91% of the company’s stock.
Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PDC Energy by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after purchasing an additional 209 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of PDC Energy during the second quarter worth $107,000. Flinton Capital Management LLC grew its stake in shares of PDC Energy by 67.0% during the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock worth $126,000 after purchasing an additional 1,168 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of PDC Energy by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock worth $195,000 after purchasing an additional 1,828 shares in the last quarter. Finally, Connable Office Inc. acquired a new position in shares of PDC Energy during the third quarter worth $202,000.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another website, it was illegally stolen and republished in violation of international trademark & copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/12/18/zacks-brokerages-expect-pdc-energy-inc-pdce-will-announce-quarterly-sales-of-257-98-million.html.
About PDC Energy
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.