PDC Energy, Inc. (NASDAQ:PDCE) had its price target boosted by Williams Capital from $58.00 to $60.00 in a research note released on Wednesday, October 18th, Marketbeat Ratings reports. Williams Capital currently has a buy rating on the energy producer’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut PDC Energy from a hold rating to a strong sell rating in a research note on Saturday, July 8th. Imperial Capital began coverage on PDC Energy in a research note on Friday, August 18th. They issued an outperform rating and a $66.00 price objective on the stock. Stifel Nicolaus restated a buy rating and issued a $76.00 price objective on shares of PDC Energy in a research note on Wednesday, August 16th. Seaport Global Securities upgraded PDC Energy from a neutral rating to a buy rating and boosted their price objective for the company from $46.00 to $51.00 in a research note on Friday, August 11th. Finally, Mizuho upgraded PDC Energy from a neutral rating to a buy rating and boosted their price objective for the company from $53.00 to $55.00 in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $69.41.
PDC Energy (PDCE) traded up 4.28% during mid-day trading on Wednesday, reaching $48.23. 927,863 shares of the company’s stock traded hands. The firm has a market cap of $3.15 billion, a PE ratio of 342.06 and a beta of 0.84. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88. The firm has a 50 day moving average of $46.81 and a 200 day moving average of $47.22.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The business had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the previous year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 1269.2% compared to the same quarter last year. Analysts forecast that PDC Energy will post $0.21 EPS for the current year.
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In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.
Several institutional investors have recently made changes to their positions in PDCE. BlackRock Inc. raised its holdings in shares of PDC Energy by 47,702.8% during the first quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock valued at $429,640,000 after acquiring an additional 6,876,357 shares in the last quarter. UBS Group AG raised its holdings in shares of PDC Energy by 101.1% during the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock valued at $912,000 after acquiring an additional 1,395,552 shares in the last quarter. Causeway Capital Management LLC raised its holdings in shares of PDC Energy by 54.1% during the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock valued at $234,496,000 after acquiring an additional 1,154,136 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PDC Energy by 13.5% during the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after acquiring an additional 677,329 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of PDC Energy by 24.8% during the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after acquiring an additional 487,816 shares in the last quarter.
PDC Energy Company Profile
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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