PDC Energy Inc (PDCE) Now Covered by Analysts at Mizuho
Several other equities research analysts have also recently commented on PDCE. RBC Capital Markets reissued an outperform rating and issued a $70.00 price target (up previously from $67.00) on shares of PDC Energy in a research note on Thursday, August 11th. Canaccord Genuity lowered their price target on PDC Energy from $80.00 to $77.00 and set a buy rating for the company in a research note on Monday, September 12th. Wunderlich lowered their price target on PDC Energy from $78.00 to $76.00 and set a buy rating for the company in a research note on Monday, September 12th. KLR Group reissued a buy rating and issued a $80.00 price target (down previously from $87.00) on shares of PDC Energy in a research note on Monday, September 12th. Finally, Zacks Investment Research cut PDC Energy from a buy rating to a hold rating in a research note on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $72.54.
Shares of PDC Energy (NASDAQ:PDCE) traded down 2.16% during trading on Wednesday, hitting $65.64. 488,944 shares of the stock were exchanged. The stock has a 50-day moving average of $65.56 and a 200 day moving average of $59.96. The stock’s market cap is $3.06 billion. PDC Energy has a 12-month low of $42.68 and a 12-month high of $71.00.
PDC Energy (NASDAQ:PDCE) last released 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. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. The business had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $160.18 million. During the same period last year, the firm earned $0.27 EPS. The company’s revenue was down 60.6% compared to the same quarter last year. Equities analysts predict that PDC Energy will post ($0.33) earnings per share for the current fiscal year.
In related news, Director David C. Parke sold 500 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $61.84, for a total transaction of $30,920.00. Following the completion of the transaction, the director now directly owns 17,717 shares in the company, valued at $1,095,619.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. First National Bank of Omaha increased its position in PDC Energy by 0.3% in the second quarter. First National Bank of Omaha now owns 7,850 shares of the company’s stock worth $452,000 after buying an additional 25 shares during the last quarter. Howe & Rusling Inc. increased its position in PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock worth $101,000 after buying an additional 165 shares during the last quarter. Profund Advisors LLC increased its position in PDC Energy by 2.0% in the second quarter. Profund Advisors LLC now owns 8,653 shares of the company’s stock worth $498,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. increased its position in PDC Energy by 1.2% in the second quarter. Whittier Trust Co. now owns 18,288 shares of the company’s stock worth $1,054,000 after buying an additional 222 shares during the last quarter. Finally, Royal Bank of Canada increased its position in PDC Energy by 3.5% in the second quarter. Royal Bank of Canada now owns 6,858 shares of the company’s stock worth $395,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.
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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