PDC Energy (NASDAQ:PDCE)‘s stock had its “buy” rating reiterated by KLR Group in a research report issued to clients and investors on Monday. They presently have a $84.00 price objective on the energy producer’s stock. KLR Group’s price target indicates a potential upside of 59.64% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of PDC Energy from $70.00 to $72.00 and gave the company a “$60.95” rating in a research note on Monday, July 23rd. Williams Capital set a $79.00 price target on shares of PDC Energy and gave the company a “buy” rating in a research note on Thursday, May 3rd. Stifel Nicolaus lowered their price target on shares of PDC Energy from $91.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, May 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of PDC Energy in a research report on Thursday, April 26th. Finally, Stephens reissued a “buy” rating and issued a $73.00 price objective on shares of PDC Energy in a research report on Tuesday, April 24th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.16.
Shares of PDCE stock opened at $52.62 on Monday. 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 1 year low of $37.15 and a 1 year 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.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.04). PDC Energy had a negative net margin of 43.37% and a positive return on equity of 2.52%. The business had revenue of $212.53 million during the quarter, compared to analyst estimates of $308.73 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. research analysts expect that PDC Energy will post 2.39 EPS for the current year.
In related news, Director Larry F. Mazza sold 4,000 shares of PDC Energy stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $61.00, for a total transaction of $244,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy 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 sale, the insider now directly 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 ninety days. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of PDC Energy by 7.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 408,931 shares of the energy producer’s stock worth $20,050,000 after buying an additional 28,293 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of PDC Energy during the 1st quarter worth about $192,000. Profund Advisors LLC boosted its holdings in shares of PDC Energy by 7.4% during the 1st quarter. Profund Advisors LLC now owns 13,846 shares of the energy producer’s stock worth $679,000 after buying an additional 953 shares during the period. Northern Trust Corp boosted its holdings in shares of PDC Energy by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,432,667 shares of the energy producer’s stock worth $70,243,000 after buying an additional 11,003 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of PDC Energy by 3.7% during the 1st quarter. Prudential Financial Inc. now owns 112,612 shares of the energy producer’s stock worth $5,521,000 after buying an additional 4,070 shares during the period.
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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