PDC Energy, Inc. (PDCE) Stock Rating Reaffirmed by BMO Capital Markets
PDC Energy, Inc. (NASDAQ:PDCE)‘s stock had its “hold” rating restated by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Friday. They presently have a $48.00 target price on the energy producer’s stock. BMO Capital Markets’ target price suggests a potential upside of 21.27% from the stock’s previous close.
A number of other brokerages also recently weighed in on PDCE. BidaskClub raised shares of PDC Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Credit Suisse Group downgraded shares of PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 price target on the stock. in a report on Thursday, June 1st. Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $51.00 in a report on Friday, August 11th. Royal Bank Of Canada cut their price target on shares of PDC Energy from $82.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, May 10th. Finally, Scotiabank reissued a “hold” rating and issued a $60.00 price target on shares of PDC Energy in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $71.36.
PDC Energy (PDCE) opened at 39.58 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 280.71 and a beta of 0.81. The stock has a 50 day moving average of $42.12 and a 200 day moving average of $52.64. PDC Energy has a 12 month low of $36.74 and a 12 month high of $84.88.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.20. The company had revenue of $275.20 million for the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The firm’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Equities analysts anticipate that PDC Energy will post $0.20 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in PDC Energy by 4.7% in the first quarter. FMR LLC now owns 7,431,171 shares of the energy producer’s stock worth $463,333,000 after buying an additional 330,814 shares during the period. BlackRock Inc. raised its stake in PDC Energy by 5.5% in the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock worth $313,529,000 after buying an additional 381,958 shares during the period. 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 period. Dimensional Fund Advisors LP raised its stake in PDC Energy by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock worth $160,110,000 after buying an additional 328,518 shares during the period. Finally, 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 period.
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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