PDC Energy (NASDAQ:PDCE) had its target price lifted by Credit Suisse Group from $37.00 to $40.00 in a research note issued on Thursday. The firm currently has a “neutral” rating on the energy producer’s stock. Credit Suisse Group’s target price suggests a potential upside of 7.90% from the company’s previous close.
Several other analysts have also issued reports on the stock. Williams Capital reiterated a “buy” rating and issued a $62.00 target price on shares of PDC Energy in a research note on Wednesday, December 12th. BMO Capital Markets upgraded shares of PDC Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Capital One Financial upgraded shares of PDC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, January 30th. Citigroup started coverage on shares of PDC Energy in a research note on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 target price for the company. Finally, BidaskClub upgraded shares of PDC Energy from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $61.35.
PDCE stock traded down $0.07 during midday trading on Thursday, reaching $37.07. 2,120,602 shares of the company’s stock traded hands, compared to its average volume of 1,281,856. The firm has a market capitalization of $2.45 billion, a PE ratio of -10.65, a price-to-earnings-growth ratio of 0.50 and a beta of 0.82. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.53. PDC Energy has a 52 week low of $26.59 and a 52 week high of $66.20.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Wednesday, February 27th. The energy producer reported ($2.22) EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($2.78). The business had revenue of $386.40 million for the quarter, compared to the consensus estimate of $360.91 million. PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. On average, equities analysts predict that PDC Energy will post 1.68 earnings per share for the current fiscal year.
In related news, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $34.21, for a total transaction of $51,315.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCE. Oregon Public Employees Retirement Fund purchased a new stake in PDC Energy during the fourth quarter valued at about $25,000. Dubuque Bank & Trust Co. purchased a new stake in PDC Energy during the fourth quarter valued at about $26,000. MHI Funds LLC purchased a new stake in PDC Energy during the fourth quarter valued at about $143,000. Teton Advisors Inc. lifted its holdings in PDC Energy by 8.5% during the fourth quarter. Teton Advisors Inc. now owns 7,700 shares of the energy producer’s stock valued at $229,000 after purchasing an additional 600 shares during the last quarter. Finally, GWM Advisors LLC purchased a new stake in PDC Energy during the third quarter valued at about $239,000.
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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