PDC Energy, Inc. to Post Q3 2017 Earnings of ($0.02) Per Share, Seaport Global Securities Forecasts (PDCE)

PDC Energy, Inc. (NASDAQ:PDCE) – Equities research analysts at Seaport Global Securities reduced their Q3 2017 earnings per share estimates for shares of PDC Energy in a report issued on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the energy producer will earn ($0.02) per share for the quarter, down from their previous estimate of $0.01. Seaport Global Securities currently has a “Buy” rating and a $51.00 target price on the stock. Seaport Global Securities also issued estimates for PDC Energy’s Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at $0.09 EPS, Q1 2018 earnings at ($0.20) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.13) EPS and FY2018 earnings at ($0.66) EPS.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s revenue was up 1269.2% compared to the same quarter last year.

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PDCE has been the subject of several other research reports. Barclays PLC reiterated a “buy” rating and set a $80.00 target price (down previously from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. Royal Bank Of Canada reissued a “buy” rating and set a $82.00 price target on shares of PDC Energy in a report on Tuesday, April 25th. Zacks Investment Research raised shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut shares of PDC Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Mizuho raised shares of PDC Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $53.00 to $55.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $72.09.

Shares of PDC Energy (NASDAQ PDCE) opened at 40.72 on Friday. The firm has a market cap of $2.66 billion, a PE ratio of 288.79 and a beta of 0.81. The firm’s 50-day moving average price is $43.95 and its 200-day moving average price is $56.44. PDC Energy has a 12 month low of $38.54 and a 12 month high of $84.88.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $103,000 after buying an additional 209 shares during the period. Seven Eight Capital LP acquired a new position in shares of PDC Energy during the second quarter worth $107,000. Flinton Capital Management LLC boosted its position in shares of PDC Energy by 19.8% in the first quarter. Flinton Capital Management LLC now owns 1,744 shares of the energy producer’s stock worth $109,000 after buying an additional 288 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of PDC Energy by 27.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock worth $109,000 after buying an additional 547 shares during the period. Finally, Invictus RG boosted its position in shares of PDC Energy by 11.2% in the first quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock worth $134,000 after buying an additional 216 shares during the period.

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.

Earnings History and Estimates for PDC Energy (NASDAQ:PDCE)

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