$356.99 Million in Sales Expected for PDC Energy Inc (PDCE) This Quarter

Equities analysts expect that PDC Energy Inc (NASDAQ:PDCE) will announce $356.99 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for PDC Energy’s earnings. The highest sales estimate is $378.00 million and the lowest is $346.00 million. PDC Energy reported sales of $189.52 million in the same quarter last year, which indicates a positive year-over-year growth rate of 88.4%. The company is expected to announce its next quarterly earnings results 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 financial year, with estimates ranging from $1.08 billion to $1.27 billion. For the next year, analysts anticipate that the business will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of analysts that follow PDC Energy.

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Several research firms have issued reports on PDCE. MKM Partners began coverage on PDC Energy in a research note on Wednesday, December 5th. They issued a “buy” rating and a $67.00 target price on the stock. Imperial Capital reiterated an “outperform” rating and issued a $61.00 target price (up previously from $57.00) on shares of PDC Energy in a research note on Tuesday, February 12th. Williams Capital reiterated a “buy” rating and issued a $62.00 target price on shares of PDC Energy in a research note on Wednesday, December 12th. BidaskClub lowered PDC Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. Finally, BMO Capital Markets set a $55.00 target price on PDC Energy and gave the company a “hold” rating in a research note on Tuesday, November 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $62.45.

In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $34.21, for a total value of $51,315.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in shares of PDC Energy by 1,092.0% during the fourth 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. Legal & General Group Plc lifted its holdings in shares of PDC Energy by 0.3% during the fourth quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock worth $4,928,000 after purchasing an additional 521 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of PDC Energy by 13.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 129,300 shares of the energy producer’s stock worth $3,848,000 after purchasing an additional 15,138 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of PDC Energy during the fourth quarter worth about $569,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of PDC Energy by 365.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,392 shares of the energy producer’s stock worth $637,000 after purchasing an additional 16,793 shares during the period.

Shares of PDC Energy stock traded up $1.17 during trading on Friday, hitting $39.26. 1,159,887 shares of the stock traded hands, compared to its average volume of 1,218,409. PDC Energy has a 52-week low of $26.59 and a 52-week high of $66.20. 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 firm has a market cap of $2.53 billion, a P/E ratio of -11.28, a P/E/G ratio of 0.49 and a beta of 0.82.

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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