PDC Energy Inc (NASDAQ:PDCE) – Analysts at KeyCorp dropped their Q1 2020 earnings per share (EPS) estimates for shares of PDC Energy in a research note issued to investors on Monday, July 15th. KeyCorp analyst L. Mariani now forecasts that the energy producer will post earnings per share of $0.79 for the quarter, down from their previous forecast of $0.95.
PDC Energy (NASDAQ:PDCE) last issued its earnings results on Wednesday, May 1st. The energy producer reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.29). The business had revenue of $134.50 million during the quarter, compared to analyst estimates of $325.83 million. PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS.
Shares of PDCE stock opened at $29.34 on Wednesday. The firm has a fifty day simple moving average of $32.81. The firm has a market cap of $1.99 billion, a P/E ratio of -9.91, a PEG ratio of 0.54 and a beta of 1.15. PDC Energy has a fifty-two week low of $26.59 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.43.
A number of large investors have recently made changes to their positions in PDCE. Arizona State Retirement System grew its holdings in PDC Energy by 0.3% during the 1st quarter. Arizona State Retirement System now owns 102,042 shares of the energy producer’s stock worth $4,151,000 after acquiring an additional 280 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in PDC Energy by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,592 shares of the energy producer’s stock worth $1,041,000 after acquiring an additional 462 shares during the period. Versant Capital Management Inc grew its holdings in PDC Energy by 47.0% during the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock worth $66,000 after acquiring an additional 520 shares during the period. Legal & General Group Plc grew its holdings in PDC Energy by 0.3% during the 4th quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock worth $4,928,000 after acquiring an additional 521 shares during the period. Finally, Mason Street Advisors LLC grew its holdings in PDC Energy by 3.5% during the 1st quarter. Mason Street Advisors LLC now owns 21,244 shares of the energy producer’s stock worth $864,000 after acquiring an additional 723 shares during the period.
In related news, Director Mark E. Ellis bought 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average cost of $37.30 per share, with a total value of $373,000.00. Following the transaction, the director now directly owns 17,752 shares in the company, valued at $662,149.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.
About PDC Energy
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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
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