Jefferies Group set a $71.00 price target on PDC Energy (NASDAQ:PDCE) in a report published on Monday, March 19th. The firm currently has a buy rating on the energy producer’s stock. Jefferies Group also issued estimates for PDC Energy’s Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.20 EPS, Q1 2019 earnings at $0.83 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.20 EPS and FY2019 earnings at $3.99 EPS.
A number of other equities analysts have also recently commented on PDCE. Barclays lifted their price objective on shares of PDC Energy from $63.00 to $64.00 and gave the stock an overweight rating in a research note on Monday, November 20th. BidaskClub cut shares of PDC Energy from a hold rating to a sell rating in a research note on Thursday, December 7th. Credit Suisse Group started coverage on shares of PDC Energy in a research note on Monday, December 11th. They issued a neutral rating and a $51.00 price objective for the company. Williams Capital dropped their price objective on shares of PDC Energy from $64.00 to $60.00 and set a buy rating for the company in a research note on Tuesday, December 12th. Finally, Stifel Nicolaus dropped their price objective on shares of PDC Energy from $83.00 to $81.00 and set a buy rating for the company in a research note on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. PDC Energy presently has an average rating of Buy and a consensus target price of $66.17.
NASDAQ PDCE traded up $1.67 on Monday, reaching $51.25. The company had a trading volume of 1,480,749 shares, compared to its average volume of 928,861. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $3,165.02, a P/E ratio of -14.25, a P/E/G ratio of 0.53 and a beta of 0.66. PDC Energy has a 12 month low of $36.74 and a 12 month high of $65.04.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. PDC Energy had a negative net margin of 13.13% and a positive return on equity of 1.17%. The company had revenue of $189.52 million for the quarter, compared to the consensus estimate of $263.28 million. analysts forecast that PDC Energy will post 2.34 EPS for the current fiscal year.
In related news, EVP Lance Lauck sold 1,000 shares of PDC Energy stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $48.92, for a total transaction of $48,920.00. Following the completion of the sale, the executive vice president now owns 99,228 shares in the company, valued at approximately $4,854,233.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $48.92, for a total transaction of $73,380.00. Following the sale, the insider now owns 211,026 shares of the company’s stock, valued at approximately $10,323,391.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,314 shares of company stock valued at $1,785,258. 0.91% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PDCE. Nationwide Fund Advisors lifted its holdings in PDC Energy by 3.8% during the 3rd quarter. Nationwide Fund Advisors now owns 62,049 shares of the energy producer’s stock valued at $3,042,000 after buying an additional 2,265 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of PDC Energy by 14.8% in the 3rd quarter. Prudential Financial Inc. now owns 109,202 shares of the energy producer’s stock valued at $5,354,000 after purchasing an additional 14,080 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of PDC Energy by 12.4% in the 3rd quarter. Principal Financial Group Inc. now owns 506,323 shares of the energy producer’s stock valued at $24,825,000 after purchasing an additional 55,926 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of PDC Energy by 24.8% in the 3rd quarter. Retirement Systems of Alabama now owns 55,300 shares of the energy producer’s stock valued at $2,711,000 after purchasing an additional 11,000 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of PDC Energy in the 3rd quarter valued at about $216,000.
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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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