Stifel Nicolaus Reaffirms “Buy” Rating for PDC Energy, Inc. (PDCE)
PDC Energy, Inc. (NASDAQ:PDCE)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a research report issued to clients and investors on Wednesday. They currently have a $76.00 price objective on the energy producer’s stock. Stifel Nicolaus’ price target indicates a potential upside of 91.34% from the stock’s previous close.
A number of other research firms have also recently commented on PDCE. BidaskClub upgraded PDC Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Williams Capital lowered their target price on PDC Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, April 21st. Credit Suisse Group cut PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 target price for the company. in a research note on Thursday, June 1st. Seaport Global Securities upgraded PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $51.00 in a research note on Friday, August 11th. Finally, Royal Bank Of Canada lowered their target price on PDC Energy from $82.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $71.82.
PDC Energy (PDCE) traded down 2.17% during midday trading on Wednesday, hitting $38.86. The stock had a trading volume of 903,850 shares. The company has a market cap of $2.54 billion, a P/E ratio of 275.60 and a beta of 0.81. The firm’s 50-day moving average price is $43.72 and its 200 day moving average price is $55.60. PDC Energy has a 12 month low of $38.54 and a 12 month high of $84.88.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.20. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The firm’s revenue for the quarter was up 1269.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts expect that PDC Energy will post $0.16 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of PDCE. BlackRock Inc. raised its stake in PDC Energy by 47,702.8% in the first quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock worth $429,640,000 after buying an additional 6,876,357 shares during the last quarter. UBS Group AG raised its stake in PDC Energy by 101.1% in the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after buying an additional 1,395,552 shares during the last quarter. Causeway Capital Management LLC raised its stake in PDC Energy by 54.1% in the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock worth $234,496,000 after buying an additional 1,154,136 shares during the last quarter. Vanguard Group Inc. raised its stake in PDC Energy by 13.5% in the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after buying an additional 677,329 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in PDC Energy by 28.7% in the first quarter. Victory Capital Management Inc. now owns 2,750,907 shares of the energy producer’s stock worth $171,519,000 after buying an additional 613,674 shares during the last quarter.
About PDC Energy
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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