PDC Energy (NASDAQ:PDCE) had its target price upped by equities researchers at KeyCorp from $26.00 to $27.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the energy producer’s stock. KeyCorp’s price objective suggests a potential upside of 10.66% from the company’s previous close.

Several other research analysts have also weighed in on the company. ValuEngine upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a report on Tuesday, October 6th. Truist lifted their target price on PDC Energy from $17.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 29th. TD Securities lifted their target price on PDC Energy from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, JPMorgan Chase & Co. lifted their target price on PDC Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, December 16th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $23.67.

NASDAQ:PDCE opened at $24.40 on Thursday. PDC Energy has a 12-month low of $4.51 and a 12-month high of $25.83. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2.43 billion, a P/E ratio of -3.36, a P/E/G ratio of 0.38 and a beta of 3.13. The stock’s fifty day simple moving average is $20.10 and its 200-day simple moving average is $15.44.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, November 4th. The energy producer reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.42. The business had revenue of $249.22 million for the quarter, compared to analyst estimates of $385.30 million. PDC Energy had a negative return on equity of 2.57% and a negative net margin of 47.97%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same period last year, the company earned ($0.39) EPS. As a group, equities research analysts expect that PDC Energy will post 0.88 earnings per share for the current year.

In related news, EVP Lance Lauck sold 3,498 shares of PDC Energy stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $18.50, for a total value of $64,713.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul Korus bought 2,500 shares of the stock in a transaction that occurred on Wednesday, December 9th. The stock was bought at an average cost of $18.63 per share, for a total transaction of $46,575.00. Following the transaction, the director now owns 17,036 shares of the company’s stock, valued at approximately $317,380.68. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of PDC Energy in the 2nd quarter valued at approximately $46,000. Private Advisor Group LLC acquired a new stake in shares of PDC Energy in the 2nd quarter valued at approximately $59,000. Cerebellum GP LLC acquired a new stake in shares of PDC Energy in the 3rd quarter valued at approximately $66,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of PDC Energy in the 3rd quarter valued at approximately $108,000. Finally, AQR Capital Management LLC acquired a new stake in shares of PDC Energy in the 2nd quarter valued at approximately $164,000.

About PDC Energy

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

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