Capital One Financial Weighs in on PDC Energy Inc’s Q2 2018 Earnings (PDCE)

PDC Energy Inc (NASDAQ:PDCE) – Capital One Financial issued their Q2 2018 earnings per share (EPS) estimates for shares of PDC Energy in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Capital One Financial analyst B. Velie anticipates that the energy producer will earn $0.67 per share for the quarter. Capital One Financial also issued estimates for PDC Energy’s Q3 2018 earnings at $0.79 EPS and Q4 2018 earnings at $0.90 EPS.

A number of other analysts also recently commented on PDCE. Mizuho reiterated a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a report on Friday, October 27th. SunTrust Banks set a $55.00 price target on shares of PDC Energy and gave the stock a “buy” rating in a report on Sunday, October 29th. Stifel Nicolaus restated a “buy” rating and set a $81.00 price target (down previously from $82.00) on shares of PDC Energy in a report on Tuesday, November 7th. Wolfe Research assumed coverage on shares of PDC Energy in a report on Tuesday, November 14th. They set a “market perform” rating for the company. Finally, BMO Capital Markets set a $55.00 price target on shares of PDC Energy and gave the stock a “hold” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. PDC Energy presently has an average rating of “Buy” and an average price target of $67.05.

PDC Energy (NASDAQ:PDCE) traded up $0.09 during mid-day trading on Monday, reaching $51.95. 929,400 shares of the company’s stock were exchanged, compared to its average volume of 807,335. The firm has a market cap of $3,416.16, a P/E ratio of -12.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. PDC Energy has a 12 month low of $36.74 and a 12 month high of $73.00.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in PDC Energy by 4.5% in the 4th quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after buying an additional 374,797 shares during the period. Victory Capital Management Inc. boosted its position in PDC Energy by 4.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,158,037 shares of the energy producer’s stock valued at $162,766,000 after buying an additional 139,748 shares during the period. State Street Corp boosted its position in PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after buying an additional 487,816 shares during the period. Bank of New York Mellon Corp boosted its position in PDC Energy by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock valued at $92,451,000 after buying an additional 45,612 shares during the period. Finally, NWQ Investment Management Company LLC boosted its position in PDC Energy by 77.8% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after buying an additional 727,517 shares during the period.

In other PDC Energy news, EVP Lance Lauck sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $53.40, for a total value of $80,100.00. Following the completion of the transaction, the executive vice president now owns 91,917 shares of the company’s stock, valued at approximately $4,908,367.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total transaction of $94,911.00. Following the completion of the transaction, the director now directly owns 21,519 shares of the company’s stock, valued at approximately $1,201,405.77. The disclosure for this sale can be found here. Insiders have sold a total of 7,200 shares of company stock valued at $386,751 in the last ninety days. 0.91% of the stock is currently owned by corporate insiders.

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About PDC Energy

PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.

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