Jefferies Group Weighs in on PDC Energy Inc’s Q2 2018 Earnings (PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Analysts at Jefferies Group upped their Q2 2018 earnings estimates for PDC Energy in a research report issued on Wednesday. Jefferies Group analyst M. Lear now anticipates that the energy producer will post earnings of $0.39 per share for the quarter, up from their prior estimate of $0.27. Jefferies Group currently has a “Buy” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for PDC Energy’s FY2018 earnings at $1.69 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $0.83 EPS and FY2019 earnings at $3.30 EPS.

A number of other equities analysts also recently commented on PDCE. KeyCorp restated a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a report on Tuesday, September 26th. BidaskClub upgraded PDC Energy from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. BMO Capital Markets set a $53.00 price target on PDC Energy and gave the company a “hold” rating in a report on Tuesday, October 10th. Williams Capital lowered 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, Stifel Nicolaus lowered 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. Ten research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.60.

PDC Energy (PDCE) traded up $0.26 during trading hours on Monday, reaching $51.99. The company had a trading volume of 997,205 shares, compared to its average volume of 1,074,169. PDC Energy has a 12-month low of $36.74 and a 12-month high of $78.61. The firm has a market capitalization of $3,307.47, a P/E ratio of -12.81 and a beta of 0.80. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43.

A number of hedge funds have recently modified their holdings of PDCE. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 purchasing an additional 209 shares during the period. Seven Eight Capital LP bought a new position in PDC Energy in the second quarter worth $107,000. Flinton Capital Management LLC lifted its holdings 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 valued at $126,000 after acquiring an additional 1,168 shares during the period. Riverhead Capital Management LLC lifted its holdings 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 valued at $195,000 after acquiring an additional 1,828 shares during the period. Finally, Connable Office Inc. bought a new position in shares of PDC Energy during the third quarter valued at $202,000.

In other news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total value of $49,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is currently owned by corporate insiders.

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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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