Equities analysts expect PDC Energy Inc (NASDAQ:PDCE) to announce $356.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for PDC Energy’s earnings, with the highest sales estimate coming in at $378.00 million and the lowest estimate coming in at $346.00 million. PDC Energy posted sales of $189.52 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 88.4%. The firm is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 27th.
On average, analysts expect that PDC Energy will report full-year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.08 billion to $1.27 billion. For the next year, analysts anticipate that the firm will report sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover PDC Energy.
A number of analysts have recently issued reports on the stock. MKM Partners assumed coverage on shares of PDC Energy in a report on Wednesday, December 5th. They set a “buy” rating and a $67.00 price target on the stock. Imperial Capital reaffirmed an “outperform” rating and set a $61.00 price target (up previously from $57.00) on shares of PDC Energy in a report on Tuesday, February 12th. ValuEngine raised shares of PDC Energy from a “strong sell” rating to a “sell” rating in a report on Friday. Williams Capital reaffirmed a “buy” rating and set a $62.00 price target on shares of PDC Energy in a report on Wednesday, December 12th. Finally, BidaskClub downgraded shares of PDC Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, December 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $62.45.
Several large investors have recently modified their holdings of PDCE. Millennium Management LLC lifted its stake in shares of PDC Energy by 1,092.0% in the 4th quarter. Millennium Management LLC now owns 2,071,379 shares of the energy producer’s stock worth $61,644,000 after purchasing an additional 1,897,607 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in PDC Energy during the 4th quarter worth approximately $25,000. Frontier Capital Management Co. LLC raised its stake in PDC Energy by 72.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,416,006 shares of the energy producer’s stock worth $69,328,000 after acquiring an additional 596,642 shares during the period. Ferox Capital Management LP bought a new stake in PDC Energy during the 3rd quarter worth approximately $485,000. Finally, FMR LLC raised its stake in PDC Energy by 12.4% during the 3rd quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock worth $186,317,000 after acquiring an additional 419,986 shares during the period.
Shares of NASDAQ PDCE opened at $38.24 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.53 billion, a PE ratio of -10.99, a P/E/G ratio of 0.47 and a beta of 0.82. PDC Energy has a 52-week low of $26.59 and a 52-week high of $66.20.
PDC Energy Company Profile
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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