PDC Energy, Inc. (PDCE) PT Raised to $64.00
PDC Energy, Inc. (NASDAQ:PDCE) had its price objective hoisted by equities research analysts at Barclays PLC from $63.00 to $64.00 in a note issued to investors on Monday. The brokerage currently has an “overweight” rating on the energy producer’s stock. Barclays PLC’s price target indicates a potential upside of 42.32% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets set a $55.00 target price on shares of PDC Energy and gave the company a “hold” rating in a research note on Tuesday, November 14th. Wolfe Research started coverage on shares of PDC Energy in a research report on Tuesday, November 14th. They issued a “market perform” rating for the company. Stifel Nicolaus restated a “buy” rating and issued a $81.00 price objective (down previously from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. SunTrust Banks, Inc. set a $55.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Mizuho restated a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.00.
PDC Energy (NASDAQ:PDCE) opened at $44.97 on Monday. PDC Energy has a one year low of $36.74 and a one year high of $84.88. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2,912.90, a P/E ratio of 113.39 and a beta of 0.82.
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In other news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in PDCE. Vanguard Group Inc. grew its holdings in shares of PDC Energy by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after buying an additional 677,329 shares during the period. State Street Corp grew its holdings in shares of PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after buying an additional 487,816 shares during the period. Precocity Capital LP acquired a new position in shares of PDC Energy in the 3rd quarter valued at $21,083,000. BlackRock Inc. grew its holdings in shares of PDC Energy by 5.5% in the 2nd quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after buying an additional 381,958 shares during the period. Finally, Caymus Capital Partners L.P. grew its holdings in shares of PDC Energy by 33.3% in the 3rd quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock valued at $74,785,000 after buying an additional 380,900 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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