Equities analysts expect that PDC Energy Inc (NASDAQ:PDCE) will post sales of $349.88 million for the current quarter, Zacks reports. Nine analysts have provided estimates for PDC Energy’s earnings, with estimates ranging from $315.00 million to $380.00 million. PDC Energy posted sales of $212.53 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 64.6%. The business is expected to issue its next earnings results after the market closes on Wednesday, August 7th.

On average, analysts expect that PDC Energy will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.14 billion to $1.50 billion. For the next financial year, analysts forecast that the company will report sales of $1.68 billion, with estimates ranging from $1.56 billion to $1.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow PDC Energy.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, May 1st. The energy producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.29). The firm had revenue of $134.50 million during the quarter, compared to the consensus estimate of $325.83 million. PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. PDC Energy’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share.

PDCE has been the subject of several research reports. Imperial Capital reiterated an “in-line” rating and issued a $29.00 target price (down from $33.00) on shares of Whiting Petroleum in a research report on Friday, May 3rd. Wells Fargo & Co downgraded Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Bank of America set a $54.00 target price on Fortis and gave the company a “buy” rating in a research report on Thursday, May 2nd. ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets initiated coverage on Victoria Gold in a research report on Thursday. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $59.63.

In other PDC Energy news, COO Scott J. Reasoner sold 1,714 shares of PDC Energy stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.01, for a total value of $75,433.14. Following the completion of the sale, the chief operating officer now directly owns 90,113 shares in the company, valued at $3,965,873.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the completion of the sale, the insider now owns 248,687 shares of the company’s stock, valued at $11,215,783.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,714 shares of company stock valued at $210,208. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. First Hawaiian Bank acquired a new stake in PDC Energy in the first quarter valued at approximately $205,000. Texas Permanent School Fund grew its stake in PDC Energy by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 43,242 shares of the energy producer’s stock valued at $1,287,000 after acquiring an additional 1,669 shares during the period. Squarepoint Ops LLC grew its stake in PDC Energy by 702.1% in the fourth quarter. Squarepoint Ops LLC now owns 66,119 shares of the energy producer’s stock valued at $1,968,000 after acquiring an additional 57,876 shares during the period. Segall Bryant & Hamill LLC grew its stake in PDC Energy by 13.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 129,300 shares of the energy producer’s stock valued at $3,848,000 after acquiring an additional 15,138 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new stake in PDC Energy in the first quarter valued at approximately $502,000.

PDC Energy stock traded down $1.94 during trading hours on Thursday, hitting $31.10. The stock had a trading volume of 1,677,605 shares, compared to its average volume of 1,165,093. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.19 billion, a PE ratio of -10.51, a price-to-earnings-growth ratio of 0.52 and a beta of 1.14. PDC Energy has a one year low of $26.59 and a one year high of $64.66. The business has a 50 day moving average of $33.14.

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

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