PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) – Investment analysts at Capital One Financial lifted their Q1 2022 earnings per share estimates for shares of PDC Energy in a note issued to investors on Sunday, April 10th. Capital One Financial analyst B. Velie now anticipates that the energy producer will post earnings of $2.96 per share for the quarter, up from their prior estimate of $2.84. Capital One Financial also issued estimates for PDC Energy’s Q2 2022 earnings at $3.71 EPS, Q3 2022 earnings at $4.22 EPS, Q4 2022 earnings at $4.67 EPS, FY2022 earnings at $15.56 EPS and FY2023 earnings at $18.35 EPS.
Several other equities analysts also recently weighed in on PDCE. Zacks Investment Research downgraded PDC Energy from a “strong-buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Tuesday, January 4th. BMO Capital Markets boosted their target price on PDC Energy from $65.00 to $73.00 in a research report on Tuesday, March 1st. TD Securities boosted their target price on PDC Energy from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, March 2nd. KeyCorp boosted their target price on PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday. Finally, MKM Partners boosted their target price on PDC Energy from $72.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, PDC Energy has a consensus rating of “Buy” and a consensus target price of $79.44.
NASDAQ PDCE opened at $72.72 on Tuesday. The company has a market cap of $7.01 billion, a P/E ratio of 13.83 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. The business’s 50 day moving average price is $66.05 and its 200-day moving average price is $57.15. PDC Energy has a fifty-two week low of $32.17 and a fifty-two week high of $78.13. PDC Energy (NASDAQ:PDCE – Get Rating) last released its quarterly earnings data on Monday, February 28th. The energy producer reported $2.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.46. The business had revenue of $854.64 million for the quarter, compared to the consensus estimate of $691.65 million. PDC Energy had a return on equity of 31.34% and a net margin of 28.15%.
The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. This is a boost from PDC Energy’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, March 10th. PDC Energy’s dividend payout ratio is currently 19.01%.
In other PDC Energy news, Director Lynn A. Peterson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 18th. The stock was sold at an average price of $55.49, for a total value of $277,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $65.72, for a total value of $65,720.00. The disclosure for this sale can be found here. Insiders sold a total of 35,383 shares of company stock valued at $2,275,919 over the last quarter. Company insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board bought a new position in shares of PDC Energy in the 1st quarter worth $1,468,000. Evergreen Capital Management LLC bought a new position in shares of PDC Energy in the 4th quarter worth $211,000. First Citizens Bank & Trust Co. raised its position in shares of PDC Energy by 5.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 7,074 shares of the energy producer’s stock worth $345,000 after acquiring an additional 368 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of PDC Energy by 31.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,676,851 shares of the energy producer’s stock worth $81,797,000 after acquiring an additional 405,088 shares in the last quarter. Finally, Vident Investment Advisory LLC raised its position in shares of PDC Energy by 2.3% in the 4th quarter. Vident Investment Advisory LLC now owns 52,143 shares of the energy producer’s stock worth $2,544,000 after acquiring an additional 1,170 shares in the last quarter.
About PDC Energy
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.