PDC Energy Inc (PDCE) Releases Earnings Results, Misses Expectations By $-0.78 EPS

PDC Energy Inc (PDCE) reported quarterly earnings results on Friday, May-6-2016. The company reported $-0.89 earnings per share for the quarter, missing the analyst consensus estimate by $-0.78. Analysts had a consensus of $-0.11. The company posted revenue of $90.80 million in the period, compared to analysts expectations of $151.14 million. The company’s revenue was down -37.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on PDC Energy Inc. PDC Energy Inc was Initiated by Nomura to “Neutral” on Apr 13, 2016. Company shares were Reiterated by Scotia Howard Weil on Apr 11, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 80 from a previous price target of $75 .Company shares were Reiterated by Topeka Capital Markets on Apr 8, 2016 to “Buy”, Firm has raised the Price Target to $ 72 from a previous price target of $68 .

PDC Energy Inc closed down -0.85 points or -1.40% at $59.9 with 12,31,587 shares getting traded on Wednesday. Post opening the session at $61.03, the shares hit an intraday low of $59.62 and an intraday high of $63.6 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 16, 2016, David C Parke (director) sold 250 shares at $54.00 per share price. According to the SEC, on Feb 29, 2016, Gysle R. Shellum (CFO) sold 17,956 shares at $51.05 per share price. On Feb 26, 2016, R Scott Meyers (CAO) sold 4,300 shares at $48.55 per share price, according to the Form-4 filing with the securities and exchange commission.

PDC Energy Inc. is a domestic independent exploration and production Company which produces develops acquires and explores for crude oil natural gas and natural gas liquids (NGLs). The Company operates in two segments: Oil and Gas Exploration and Production and Gas Marketing. The Company’s Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil natural gas and NGLs commodity price risk management net and well operations and pipeline income. The Company’s Gas Marketing segment comprises the operating activities of its wholly owned subsidiary Riley Natural Gas. The Company operates in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. Its operations in the Wattenberg Field are focused on the liquid-rich horizontal Niobrara and Codell plays. It owns an interest in approximately 2900 gross producing wells of which 350 are horizontal.

PDC Energy Inc

Leave a Reply

PDC Energy Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on PDC Energy Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.