PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) – Analysts at KeyCorp issued their Q3 2022 earnings estimates for shares of PDC Energy in a research note issued to investors on Monday, September 19th. KeyCorp analyst T. Rezvan forecasts that the energy producer will post earnings per share of $4.08 for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for PDC Energy’s current full-year earnings is $16.52 per share. KeyCorp also issued estimates for PDC Energy’s Q4 2022 earnings at $4.07 EPS, FY2022 earnings at $16.95 EPS, Q1 2023 earnings at $5.10 EPS, Q2 2023 earnings at $4.72 EPS, Q3 2023 earnings at $4.88 EPS, Q4 2023 earnings at $5.26 EPS and FY2023 earnings at $19.96 EPS.
PDC Energy (NASDAQ:PDCE – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 EPS for the quarter, topping the consensus estimate of $4.57 by $0.54. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%.
PDC Energy Stock Down 1.9 %
PDCE opened at $59.90 on Thursday. The company has a 50 day moving average of $63.04 and a 200 day moving average of $67.88. The company has a market cap of $5.77 billion, a PE ratio of 4.74 and a beta of 2.57. PDC Energy has a 12 month low of $43.22 and a 12 month high of $89.22. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.49.
Hedge Funds Weigh In On PDC Energy
A number of large investors have recently added to or reduced their stakes in PDCE. Raymond James & Associates bought a new stake in PDC Energy in the 4th quarter worth $468,000. JPMorgan Chase & Co. grew its holdings in PDC Energy by 5.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,278,537 shares of the energy producer’s stock worth $62,366,000 after acquiring an additional 64,688 shares during the last quarter. Private Advisor Group LLC bought a new stake in PDC Energy in the 4th quarter worth $384,000. Geode Capital Management LLC grew its holdings in PDC Energy by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,795,517 shares of the energy producer’s stock worth $87,585,000 after acquiring an additional 50,504 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in PDC Energy by 13.8% in the 4th quarter. Invesco Ltd. now owns 638,377 shares of the energy producer’s stock worth $31,141,000 after acquiring an additional 77,625 shares during the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.
In other news, Director Lynn A. Peterson sold 7,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $62.00, for a total transaction of $434,000.00. Following the sale, the director now owns 289,167 shares in the company, valued at approximately $17,928,354. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO R Scott Meyers sold 1,000 shares of PDC Energy stock in a transaction on Friday, July 1st. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the transaction, the chief financial officer now owns 116,128 shares in the company, valued at approximately $7,184,839.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lynn A. Peterson sold 7,000 shares of PDC Energy stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.00, for a total transaction of $434,000.00. Following the completion of the transaction, the director now owns 289,167 shares in the company, valued at approximately $17,928,354. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,000 shares of company stock worth $1,706,410. 1.20% of the stock is currently owned by corporate insiders.
PDC Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 8th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Wednesday, September 7th. PDC Energy’s dividend payout ratio (DPR) is currently 11.08%.
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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