PDC Energy Inc (NASDAQ:PDCE) – Research analysts at Capital One Financial upped their Q4 2017 earnings per share estimates for PDC Energy in a note issued to investors on Tuesday. Capital One Financial analyst B. Velie now forecasts that the energy producer will post earnings of $0.23 per share for the quarter, up from their previous estimate of $0.14. Capital One Financial also issued estimates for PDC Energy’s Q1 2018 earnings at $0.64 EPS and FY2018 earnings at $3.00 EPS.
PDCE has been the topic of a number of other research reports. BidaskClub upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Barclays boosted their price target on PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, November 20th. Stifel Nicolaus reduced their price target 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 reduced their price target on PDC Energy from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, December 12th. Finally, SunTrust Banks set a $55.00 price target on PDC Energy and gave the company a “buy” rating in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.05.
In other news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total value of $78,120.00. Following the sale, the chief executive officer now directly owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now directly owns 21,519 shares in the company, valued at $1,201,405.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,200 shares of company stock worth $386,751. Insiders own 0.91% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Flinton Capital Management LLC boosted its position in shares of PDC Energy by 67.0% in the 2nd 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. MHI Funds LLC bought a new position in PDC Energy in the 4th quarter valued at approximately $138,000. First Mercantile Trust Co. lifted its position in PDC Energy by 93.3% in the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PDC Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after acquiring an additional 1,201 shares in the last quarter. Finally, Connable Office Inc. bought a new position in PDC Energy in the 3rd quarter valued at approximately $202,000.
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.
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