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PDC Energy, Inc. (NASDAQ:PDCE) to Post Q3 2022 Earnings of $4.08 Per Share, KeyCorp Forecasts – MarketBeat

Written by Amanda

PDC Energy, Inc. (NASDAQ:PDCE) to Post Q3 2022 Earnings of $4.08 Per Share, KeyCorp Forecasts  MarketBeat

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) – Equities research analysts at KeyCorp issued their Q3 2022 EPS estimates for shares of PDC Energy in a report issued on Monday, September 19th. KeyCorp analyst T. Rezvan forecasts that the energy producer will post earnings per share of $4.08 for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for PDC Energy’s current full-year earnings is $16.52 per share. KeyCorp also issued estimates for PDC Energy’s Q4 2022 earnings at $4.07 EPS, FY2022 earnings at $16.95 EPS, Q1 2023 earnings at $5.10 EPS, Q2 2023 earnings at $4.72 EPS, Q3 2023 earnings at $4.88 EPS, Q4 2023 earnings at $5.26 EPS and FY2023 earnings at $19.96 EPS.

PDC Energy (NASDAQ:PDCEGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The energy producer reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.57 by $0.54. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion.

Several other analysts also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of PDC Energy from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, July 11th. The Goldman Sachs Group reduced their target price on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. MKM Partners reaffirmed a “buy” rating and set a $76.00 target price on shares of PDC Energy in a report on Wednesday, July 20th. Truist Financial reduced their target price on shares of PDC Energy from $105.00 to $97.00 and set a “buy” rating for the company in a report on Monday, August 15th. Finally, TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.75.

PDC Energy Stock Performance

Shares of PDCE opened at $61.09 on Thursday. The firm has a 50-day moving average of $62.94 and a 200-day moving average of $67.95. PDC Energy has a one year low of $43.01 and a one year high of $89.22. The company has a market cap of $5.88 billion, a PE ratio of 4.83 and a beta of 2.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.42 and a quick ratio of 0.42.

PDC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, September 7th. PDC Energy’s dividend payout ratio (DPR) is 11.08%.

Insiders Place Their Bets

In other news, CFO R Scott Meyers sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.87, for a total value of $61,870.00. Following the completion of the transaction, the chief financial officer now directly owns 116,128 shares in the company, valued at approximately $7,184,839.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.85, for a total value of $123,700.00. Following the completion of the transaction, the chief executive officer now directly owns 388,201 shares in the company, valued at approximately $24,010,231.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO R Scott Meyers sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $61.87, for a total transaction of $61,870.00. Following the completion of the transaction, the chief financial officer now owns 116,128 shares of the company’s stock, valued at $7,184,839.36. The disclosure for this sale can be found here. Insiders sold 27,000 shares of company stock worth $1,706,410 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PDC Energy

Institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc acquired a new position in PDC Energy during the 1st quarter worth approximately $29,000. FinTrust Capital Advisors LLC increased its position in PDC Energy by 68.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock worth $32,000 after purchasing an additional 178 shares in the last quarter. Geneos Wealth Management Inc. increased its position in PDC Energy by 129.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in PDC Energy during the 1st quarter worth approximately $36,000. Finally, Covestor Ltd increased its position in PDC Energy by 350.7% during the 1st quarter. Covestor Ltd now owns 631 shares of the energy producer’s stock worth $46,000 after purchasing an additional 491 shares in the last quarter. 96.91% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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

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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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