Analysts Offer Predictions for PDC Energy, Inc.’s Q3 2022 Earnings (NASDAQ:PDCE)

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) – Equities researchers at Seaport Res Ptn raised their Q3 2022 earnings estimates for shares of PDC Energy in a research report issued on Tuesday, April 19th. Seaport Res Ptn analyst N. Pope now expects that the energy producer will post earnings per share of $5.85 for the quarter, up from their previous estimate of $5.20. Seaport Res Ptn also issued estimates for PDC Energy’s Q4 2022 earnings at $5.57 EPS and FY2022 earnings at $20.11 EPS.

Several other research analysts have also recently issued reports on PDCE. Wells Fargo & Company increased their price objective on PDC Energy from $71.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, March 14th. Truist Financial raised their price target on PDC Energy from $80.00 to $96.00 in a research report on Thursday. Stifel Nicolaus raised their price target on PDC Energy from $82.00 to $87.00 in a research report on Monday, February 28th. MKM Partners raised their price target on PDC Energy from $72.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Finally, Zacks Investment Research lowered PDC Energy from a “strong-buy” rating to a “hold” rating and set a $55.00 price objective on the stock. in a research note on Tuesday, January 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $81.78.

NASDAQ:PDCE opened at $72.22 on Thursday. The stock has a fifty day moving average price of $69.00 and a two-hundred day moving average price of $58.81. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 13.73 and a beta of 2.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.50 and a current ratio of 0.50. PDC Energy has a 1 year low of $33.72 and a 1 year high of $79.39.

PDC Energy (NASDAQ:PDCEGet Rating) last released its quarterly earnings results on Monday, February 28th. The energy producer reported $2.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.46. PDC Energy had a return on equity of 31.34% and a net margin of 28.15%. The business had revenue of $854.64 million during the quarter, compared to analysts’ expectations of $691.65 million.

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in shares of PDC Energy by 55.8% during the 4th quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock valued at $25,000 after buying an additional 183 shares during the period. CWM LLC increased its holdings in PDC Energy by 121.0% during the 1st quarter. CWM LLC now owns 705 shares of the energy producer’s stock worth $51,000 after purchasing an additional 386 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in PDC Energy during the 4th quarter worth approximately $37,000. Rockefeller Capital Management L.P. increased its holdings in PDC Energy by 169.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock worth $39,000 after purchasing an additional 509 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in PDC Energy by 258.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,019 shares of the energy producer’s stock worth $48,000 after purchasing an additional 735 shares during the last quarter.

In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $66.78, for a total value of $133,560.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO R Scott Meyers sold 1,000 shares of PDC Energy stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $73.14, for a total value of $73,140.00. Following the completion of the transaction, the chief financial officer now directly owns 119,128 shares in the company, valued at $8,713,021.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,383 shares of company stock worth $1,998,469. 0.97% of the stock is owned by corporate insiders.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. This is a positive change from PDC Energy’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 10th. PDC Energy’s dividend payout ratio (DPR) is presently 19.01%.

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.

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

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