Capital One Financial Research Analysts Reduce Earnings Estimates for PDC Energy, Inc. (NASDAQ:PDCE)

PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) – Research analysts at Capital One Financial reduced their Q2 2023 EPS estimates for PDC Energy in a report issued on Monday, May 15th. Capital One Financial analyst B. Velie now anticipates that the energy producer will earn $3.78 per share for the quarter, down from their prior estimate of $3.80. The consensus estimate for PDC Energy’s current full-year earnings is $13.50 per share. Capital One Financial also issued estimates for PDC Energy’s Q3 2023 earnings at $3.92 EPS, FY2023 earnings at $14.52 EPS and FY2025 earnings at $21.78 EPS.

PDC Energy (NASDAQ:PDCE – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The energy producer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.17. The business had revenue of $879.50 million during the quarter, compared to analyst estimates of $892.11 million. PDC Energy had a net margin of 49.57% and a return on equity of 35.66%. The firm’s quarterly revenue was down 41.8% on a year-over-year basis. During the same quarter last year, the business earned $2.86 EPS.

PDCE has been the topic of a number of other research reports. Mizuho reiterated a “buy” rating and issued a $93.00 price target on shares of PDC Energy in a research report on Tuesday, April 11th. The Goldman Sachs Group upped their price target on PDC Energy from $65.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, April 21st. JPMorgan Chase & Co. upped their price target on PDC Energy from $76.00 to $80.00 in a research report on Thursday, April 6th. Roth Capital reiterated a “buy” rating on shares of PDC Energy in a research report on Friday, February 17th. Finally, StockNews.com started coverage on PDC Energy in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

PDC Energy Stock Up 2.6 %

Shares of NASDAQ PDCE opened at $63.87 on Wednesday. The firm has a market cap of $5.59 billion, a PE ratio of 2.72, a price-to-earnings-growth ratio of 0.12 and a beta of 2.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.43. PDC Energy has a 1 year low of $51.72 and a 1 year high of $89.22. The company has a 50 day simple moving average of $64.02 and a 200 day simple moving average of $66.66.

Hedge Funds Weigh In On PDC Energy

Hedge funds have recently added to or reduced their stakes in the stock. Natixis purchased a new stake in PDC Energy in the 4th quarter valued at $25,000. U.S. Capital Wealth Advisors LLC purchased a new stake in PDC Energy in the 4th quarter valued at about $26,000. Belpointe Asset Management LLC bought a new position in shares of PDC Energy during the 4th quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PDC Energy by 2,600.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock worth $29,000 after buying an additional 442 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of PDC Energy by 129.5% during the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 96.16% of the company’s stock.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 164,910 shares of the company’s stock, valued at $9,894,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the transaction, the chief financial officer now owns 164,910 shares in the company, valued at $9,894,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $68.22, for a total transaction of $136,440.00. Following the transaction, the chief executive officer now owns 548,070 shares of the company’s stock, valued at $37,389,335.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,500 shares of company stock valued at $1,660,615. Corporate insiders own 1.50% of the company’s stock.

PDC Energy Company Profile

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PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.