PDC Energy, Inc. (NASDAQ:PDCE) Expected to Post FY2022 Earnings of $15.77 Per Share

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) – Capital One Financial dropped their FY2022 EPS estimates for PDC Energy in a report released on Monday, January 23rd. Capital One Financial analyst B. Velie now forecasts that the energy producer will earn $15.77 per share for the year, down from their prior forecast of $16.16. The consensus estimate for PDC Energy’s current full-year earnings is $15.73 per share. Capital One Financial also issued estimates for PDC Energy’s Q4 2022 earnings at $3.23 EPS, Q1 2023 earnings at $3.48 EPS, Q2 2023 earnings at $3.69 EPS, Q3 2023 earnings at $4.04 EPS, Q4 2023 earnings at $4.29 EPS, FY2023 earnings at $15.50 EPS and FY2024 earnings at $18.14 EPS.

Other equities analysts have also recently issued reports about the stock. Mizuho began coverage on shares of PDC Energy in a research note on Monday, January 9th. They set a “buy” rating and a $97.00 target price for the company. Truist Financial cut shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 target price for the company. in a research note on Monday, December 12th. StockNews.com cut shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Finally, The Goldman Sachs Group cut shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a research note on Tuesday, October 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.33.

PDC Energy Stock Performance

Shares of NASDAQ PDCE opened at $68.67 on Tuesday. The stock has a market cap of $6.33 billion, a PE ratio of 3.52 and a beta of 2.51. The firm has a fifty day moving average price of $67.00 and a 200-day moving average price of $65.71. PDC Energy has a 1 year low of $51.72 and a 1 year high of $89.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48.

PDC Energy (NASDAQ:PDCEGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The energy producer reported $3.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.13 by ($0.36). The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.06 billion. PDC Energy had a return on equity of 45.90% and a net margin of 49.76%.

PDC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 28th. Shareholders of record on Monday, December 19th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 16th. This represents a $4.00 annualized dividend and a yield of 5.82%. This is a positive change from PDC Energy’s previous quarterly dividend of $0.35. PDC Energy’s dividend payout ratio (DPR) is 7.18%.

Insider Buying and Selling at PDC Energy

In other news, SVP Nicole L. Martinet sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $82.00, for a total value of $574,000.00. Following the completion of the sale, the senior vice president now owns 44,066 shares in the company, valued at approximately $3,613,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $62.49, for a total value of $124,980.00. Following the completion of the sale, the chief executive officer now owns 363,556 shares in the company, valued at approximately $22,718,614.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nicole L. Martinet sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $82.00, for a total transaction of $574,000.00. Following the completion of the sale, the senior vice president now owns 44,066 shares of the company’s stock, valued at approximately $3,613,412. The disclosure for this sale can be found here. Insiders sold 66,339 shares of company stock worth $4,978,981 over the last 90 days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On PDC Energy

Several institutional investors have recently made changes to their positions in PDCE. Geneos Wealth Management Inc. lifted its holdings in PDC Energy by 129.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after buying an additional 250 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in PDC Energy by 76.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 579 shares of the energy producer’s stock valued at $38,000 after buying an additional 251 shares in the last quarter. Covestor Ltd lifted its holdings in PDC Energy by 350.7% during the 1st quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock valued at $46,000 after buying an additional 491 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in PDC Energy by 38.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 831 shares of the energy producer’s stock valued at $48,000 after buying an additional 231 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in PDC Energy by 23.6% during the 3rd quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock valued at $49,000 after buying an additional 163 shares in the last quarter. Institutional investors own 96.16% of the company’s stock.

About PDC Energy

(Get Rating)

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.

See Also

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

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