DENVER (AP) — DENVER (AP) — PDC Energy Inc. (PDCE) on Wednesday reported fourth-quarter earnings of $349.7 million.
The Denver-based company said it had net income of $3.79 per share. Earnings, adjusted for non-recurring gains, came to $3.22 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.09 per share.
The independent oil and gas company posted revenue of $879.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $853 million.
For the year, the company reported profit of $1.78 billion, or $18.49 per share. Revenue was reported as $3.85 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDCE at https://www.zacks.com/ap/PDCE
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