PDC Energy (NASDAQ:PDCE) has been assigned a $77.00 target price by equities researchers at Williams Capital in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the energy producer’s stock. Williams Capital’s target price would suggest a potential upside of 46.33% from the stock’s current price.
Several other equities research analysts have also issued reports on PDCE. Stifel Nicolaus set a $91.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a report on Monday, April 23rd. Stephens restated a “buy” rating and issued a $73.00 target price on shares of PDC Energy in a report on Tuesday, April 24th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 target price on shares of PDC Energy in a report on Thursday, April 26th. ValuEngine upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, SunTrust Banks raised their target price on shares of PDC Energy to $62.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $72.16.
Shares of NASDAQ:PDCE opened at $52.62 on Monday. PDC Energy has a 52 week low of $37.15 and a 52 week high of $66.20. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -15.12, a price-to-earnings-growth ratio of 0.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.36 and a quick ratio of 0.36.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, August 8th. The energy producer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.04). The business had revenue of $212.53 million during the quarter, compared to analysts’ expectations of $308.73 million. PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The business’s quarterly revenue was down 22.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. research analysts expect that PDC Energy will post 2.39 EPS for the current fiscal year.
In related news, Director David C. Parke sold 600 shares of PDC Energy 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 sale, the director now owns 13,341 shares in the company, valued at approximately $707,473.23. 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 Friday, June 1st. The shares were sold at an average price of $60.91, for a total transaction of $91,365.00. Following the sale, 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 a total of 12,100 shares of company stock valued at $730,663 in the last quarter. 1.00% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC lifted its holdings in PDC Energy by 12.6% during the 1st quarter. Glen Harbor Capital Management LLC now owns 8,232 shares of the energy producer’s stock valued at $404,000 after buying an additional 924 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of PDC Energy by 7.4% in the 1st quarter. Profund Advisors LLC now owns 13,846 shares of the energy producer’s stock valued at $679,000 after purchasing an additional 953 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of PDC Energy by 7.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock valued at $809,000 after purchasing an additional 974 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in shares of PDC Energy by 3.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock valued at $1,833,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Dubuque Bank & Trust Co. raised its holdings in shares of PDC Energy by 31.8% in the 1st quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock valued at $219,000 after purchasing an additional 1,077 shares in the last quarter.
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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