Analysts Set PDC Energy Inc. (NASDAQ:PDCE) PT at $73.74
PDC Energy Inc. (NASDAQ:PDCE) has been given a consensus rating of “Buy” by the thirty-one research firms that are presently covering the stock. Eight equities research analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $73.74.
PDCE has been the topic of several recent research reports. KeyCorp lifted their target price on shares of PDC Energy to $76.00 in a report on Wednesday, August 24th. Credit Suisse Group AG restated a “buy” rating on shares of PDC Energy in a report on Wednesday, August 10th. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Saturday, July 23rd. Bank of America Corp. restated a “buy” rating and set a $76.00 target price on shares of PDC Energy in a report on Wednesday, August 24th. Finally, Wunderlich lifted their target price on shares of PDC Energy from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, August 25th.
In related news, Director David C. Parke sold 500 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $61.84, for a total transaction of $30,920.00. Following the completion of the sale, the director now directly owns 17,717 shares of the company’s stock, valued at $1,095,619.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PDCE. Howe & Rusling Inc. raised its stake in PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock valued at $101,000 after buying an additional 165 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in PDC Energy during the second quarter valued at approximately $302,000. BlueMountain Capital Management LLC acquired a new stake in PDC Energy during the second quarter valued at approximately $302,000. Rafferty Asset Management LLC acquired a new stake in PDC Energy during the first quarter valued at approximately $305,000. Finally, Amalgamated Bank raised its stake in PDC Energy by 18.0% in the second quarter. Amalgamated Bank now owns 5,077 shares of the company’s stock valued at $311,000 after buying an additional 776 shares in the last quarter. 95.50% of the stock is owned by institutional investors and hedge funds.
PDC Energy (NASDAQ:PDCE) opened at 65.74 on Monday. The company has a 50-day moving average price of $64.84 and a 200-day moving average price of $59.59. PDC Energy has a 12-month low of $42.68 and a 12-month high of $71.00. The firm’s market capitalization is $3.06 billion.
PDC Energy (NASDAQ:PDCE) last posted its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The business had revenue of $20.10 million for the quarter, compared to analyst estimates of $160.18 million. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. The business’s revenue was down 60.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, analysts predict that PDC Energy will post ($0.34) earnings per share for the current year.
PDC Energy Company Profile
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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