BidaskClub downgraded shares of PDC Energy (NASDAQ:PDCE) from a hold rating to a sell rating in a report released on Thursday morning.
Several other equities research analysts also recently commented on PDCE. Mizuho raised shares of PDC Energy from a neutral rating to a buy rating and upped their price objective for the company from $53.00 to $55.00 in a report on Wednesday, August 9th. Seaport Global Securities raised shares of PDC Energy from a neutral rating to a buy rating and increased their price target for the stock from $46.00 to $51.00 in a report on Friday, August 11th. Stifel Nicolaus reissued a buy rating and issued a $76.00 price target on shares of PDC Energy in a report on Wednesday, August 16th. Imperial Capital assumed coverage on shares of PDC Energy in a report on Friday, August 18th. They issued an outperform rating and a $66.00 price target on the stock. Finally, Mitsubishi UFJ Financial Group reissued a neutral rating on shares of PDC Energy in a report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. PDC Energy presently has an average rating of Hold and a consensus price target of $69.00.
PDC Energy (NASDAQ:PDCE) traded up $1.43 during midday trading on Thursday, reaching $44.47. 810,600 shares of the company’s stock traded hands, compared to its average volume of 1,084,997. The stock has a market capitalization of $2,929.36, a P/E ratio of 114.03 and a beta of 0.80. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90.
In related news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in PDC Energy by 8.7% during the second quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after acquiring an additional 10,360 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in PDC Energy during the third quarter valued at approximately $666,000. Monarch Partners Asset Management LLC bought a new position in PDC Energy during the third quarter valued at approximately $8,790,000. Stevens Capital Management LP bought a new position in PDC Energy during the second quarter valued at approximately $978,000. Finally, Tricadia Capital Management LLC bought a new position in PDC Energy during the second quarter valued at approximately $693,000.
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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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