PDC Energy Inc (NASDAQ:PDCE) has been assigned an average recommendation of “Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $72.59.
Several research firms have weighed in on PDCE. KeyCorp upped their price objective on shares of PDC Energy from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 24th. Zacks Investment Research downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Stephens restated a “buy” rating and set a $78.00 price objective on shares of PDC Energy in a report on Thursday, July 26th. Jefferies Financial Group set a $86.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PDC Energy from $70.00 to $72.00 and gave the stock a “$60.95” rating in a report on Monday, July 23rd.
In other PDC Energy news, Director David C. Parke sold 600 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $53.03, for a total transaction of $31,818.00. Following the completion of the transaction, the director now owns 13,341 shares in the company, valued at $707,473.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $60.91, for a total transaction of $91,365.00. Following the transaction, the insider now owns 208,026 shares of the company’s stock, valued at approximately $12,670,863.66. The disclosure for this sale can be found here. Insiders have sold 12,100 shares of company stock valued at $730,663 in the last quarter. Company insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of PDCE. Dupont Capital Management Corp bought a new position in PDC Energy during the first quarter worth about $768,000. American Assets Investment Management LLC bought a new position in shares of PDC Energy in the first quarter valued at approximately $490,000. Frontier Capital Management Co. LLC boosted its position in shares of PDC Energy by 5.3% in the first quarter. Frontier Capital Management Co. LLC now owns 636,323 shares of the energy producer’s stock valued at $31,199,000 after acquiring an additional 32,189 shares during the period. Monarch Partners Asset Management LLC boosted its position in shares of PDC Energy by 39.3% in the first quarter. Monarch Partners Asset Management LLC now owns 311,540 shares of the energy producer’s stock valued at $15,275,000 after acquiring an additional 87,875 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of PDC Energy by 156.6% in the first quarter. SG Americas Securities LLC now owns 19,506 shares of the energy producer’s stock valued at $956,000 after acquiring an additional 11,904 shares during the period.
PDCE traded up $1.28 during trading on Wednesday, hitting $53.90. 17,852 shares of the company’s stock were exchanged, compared to its average volume of 1,010,481. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. PDC Energy has a fifty-two week low of $37.15 and a fifty-two week high of $66.20. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -15.47, a PEG ratio of 0.56 and a beta of 0.64.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Wednesday, August 8th. The energy producer reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.04). PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The business had revenue of $212.53 million for the quarter, compared to analyst estimates of $308.73 million. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s quarterly revenue was down 22.8% on a year-over-year basis. equities analysts forecast that PDC Energy will post 2.39 earnings per share for the current fiscal year.
PDC Energy Company Profile
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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