Analysts at Deutsche Bank began coverage on shares of PDC Energy (NASDAQ:PDCE) in a note issued to investors on Wednesday, April 4th. The firm set a “buy” rating and a $62.00 price target on the energy producer’s stock. Deutsche Bank’s price objective suggests a potential upside of 21.54% from the stock’s previous close.
Other analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $58.00 target price on shares of PDC Energy in a research report on Thursday, January 11th. Imperial Capital boosted their price target on PDC Energy from $73.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded PDC Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Credit Suisse Group started coverage on PDC Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Williams Capital restated a “buy” rating and set a $76.00 price objective (up previously from $69.00) on shares of PDC Energy in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $66.17.
Shares of PDC Energy stock traded up $1.43 during trading on Wednesday, reaching $51.01. The stock had a trading volume of 714,148 shares, compared to its average volume of 916,033. The firm has a market cap of $3,165.02, a price-to-earnings ratio of -14.25, a price-to-earnings-growth ratio of 0.53 and a beta of 0.66. PDC Energy has a 52 week low of $36.74 and a 52 week high of $65.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $189.52 million for the quarter, compared to analyst estimates of $263.28 million. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%. equities analysts expect that PDC Energy will post 2.34 EPS for the current year.
In related news, Director Jeffrey C. Swoveland sold 1,700 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total value of $94,911.00. Following the completion of the sale, the director now directly owns 21,519 shares in the company, valued at $1,201,405.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $51.86, for a total value of $77,790.00. Following the completion of the sale, the chief executive officer now owns 173,473 shares of the company’s stock, valued at $8,996,309.78. The disclosure for this sale can be found here. Insiders have sold 33,314 shares of company stock valued at $1,785,258 over the last quarter. Company insiders own 0.91% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Meadow Creek Investment Management LLC grew its holdings in PDC Energy by 20.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,742 shares of the energy producer’s stock worth $296,000 after acquiring an additional 990 shares during the period. Whittier Trust Co. boosted its position in shares of PDC Energy by 5.2% during the 4th quarter. Whittier Trust Co. now owns 21,113 shares of the energy producer’s stock worth $1,088,000 after purchasing an additional 1,053 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PDC Energy by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock worth $185,000 after purchasing an additional 1,201 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of PDC Energy by 93.3% during the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of PDC Energy by 6.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the energy producer’s stock worth $1,459,000 after purchasing an additional 1,600 shares in the last quarter.
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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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