Stifel Nicolaus Analysts Give PDC Energy, Inc. (PDCE) a $69.00 Price Target
Stifel Nicolaus set a $69.00 price target on PDC Energy, Inc. (NASDAQ:PDCE) in a research note issued to investors on Thursday morning. The brokerage currently has a buy rating on the energy producer’s stock.
A number of other research analysts have also recently commented on the company. KeyCorp reiterated a buy rating and issued a $55.00 price target on shares of PDC Energy in a research note on Tuesday, September 26th. BMO Capital Markets reiterated a hold rating and issued a $48.00 price target on shares of PDC Energy in a research note on Friday, September 1st. Mitsubishi UFJ Financial Group reiterated a neutral rating on shares of PDC Energy in a research note on Monday, August 21st. Imperial Capital assumed coverage on PDC Energy in a research note on Friday, August 18th. They issued an outperform rating and a $66.00 price target for the company. Finally, Seaport Global Securities upgraded PDC Energy from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $51.00 in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. PDC Energy has a consensus rating of Hold and an average target price of $70.14.
Shares of PDC Energy (NASDAQ PDCE) opened at 47.54 on Thursday. The stock has a 50 day moving average price of $43.26 and a 200 day moving average price of $48.79. The firm has a market capitalization of $3.11 billion, a PE ratio of 337.16 and a beta of 0.84. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88.
PDC Energy (NASDAQ:PDCE) last announced its quarterly 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. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The company had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the prior year, the company earned ($0.11) EPS. PDC Energy’s revenue was up 1269.2% compared to the same quarter last year. Equities research analysts anticipate that PDC Energy will post $0.22 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of PDCE. BlackRock Inc. grew its holdings in PDC Energy by 47,702.8% during the 1st quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock worth $429,640,000 after acquiring an additional 6,876,357 shares during the period. UBS Group AG grew its holdings in PDC Energy by 101.1% during the 1st quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after acquiring an additional 1,395,552 shares during the period. Causeway Capital Management LLC grew its holdings in PDC Energy by 54.1% during the 1st quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock worth $234,496,000 after acquiring an additional 1,154,136 shares during the period. Vanguard Group Inc. grew its holdings in PDC Energy by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after acquiring an additional 677,329 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in PDC Energy by 17.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,385,502 shares of the energy producer’s stock worth $211,083,000 after acquiring an additional 501,484 shares during the period.
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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