Todays Report: Today, PDC Energy Inc. Forecasted to Earn FY2016 Earnings of ($0.66) Per Share (PDCE)

Today, PDC Energy Inc. Forecasted to Earn FY2016 Earnings of ($0.66) Per Share (PDCE)

PDC Energy Inc. (NASDAQ:PDCE) – Stock analysts at KeyCorp cut their FY2016 earnings estimates for shares of PDC Energy in a research note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the brokerage will earn ($0.66) per share for the year, down from their prior forecast of ($0.35). KeyCorp also issued estimates for PDC Energy’s Q4 2016 earnings at ($0.20) EPS, Q1 2017 earnings at ($0.49) EPS, Q2 2017 earnings at ($0.45) EPS, Q3 2017 earnings at ($0.37) EPS, Q4 2017 earnings at ($0.31) EPS and FY2017 earnings at ($1.63) EPS.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Thursday, November 3rd. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.11. PDC Energy had a negative net margin of 42.23% and a negative return on equity of 2.31%. The business earned $164 million during the quarter, compared to analyst estimates of $178.12 million. During the same quarter in the prior year, the business earned ($1.89) earnings per share. The firm’s revenue was down 29.0% compared to the same quarter last year.

A number of other brokerages have also weighed in on PDCE. KLR Group reaffirmed a “buy” rating and issued a $80.00 target price (down from $87.00) on shares of PDC Energy in a research note on Monday, September 12th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $83.00 target price on shares of PDC Energy in a research note on Thursday, August 25th. Royal Bank Of Canada increased their price objective on shares of PDC Energy from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. BMO Capital Markets downgraded shares of PDC Energy from an “outperform” rating to a “market perform” rating and set a $58.00 price objective for the company. in a research note on Monday, August 8th. Finally, Nomura restated a “hold” rating and set a $66.00 price objective on shares of PDC Energy in a research note on Monday, November 7th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. PDC Energy has a consensus rating of “Buy” and a consensus target price of $72.79.

Shares of PDC Energy (NASDAQ:PDCE) opened at 68.69 on Thursday. The firm’s market capitalization is $3.83 billion. PDC Energy has a 52-week low of $42.67 and a 52-week high of $71.00. The company has a 50-day moving average price of $64.29 and a 200 day moving average price of $60.98.

In other news, VP Daniel Willson Amidon sold 5,441 shares of PDC Energy stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $68.73, for a total transaction of $373,959.93. Following the transaction, the vice president now owns 66,071 shares in the company, valued at $4,541,059.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimberly Luff Wakim sold 2,000 shares of PDC Energy stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $69.10, for a total transaction of $138,200.00. Following the transaction, the director now owns 9,182 shares in the company, valued at approximately $634,476.20. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of PDC Energy during the second quarter worth approximately $112,887,000. Causeway Capital Management LLC acquired a new position in shares of PDC Energy during the second quarter worth approximately $110,908,000. Van ECK Associates Corp raised its position in shares of PDC Energy by 199.4% in the second quarter. Van ECK Associates Corp now owns 2,031,800 shares of the company’s stock worth $117,052,000 after buying an additional 1,353,100 shares during the period. BlackRock Fund Advisors raised its position in shares of PDC Energy by 31.2% in the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the company’s stock worth $265,176,000 after buying an additional 940,134 shares during the period. Finally, OZ Management LP acquired a new position in shares of PDC Energy during the third quarter worth approximately $26,824,000. Institutional investors own 96.84% of the company’s stock.

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