Tudor Pickering upgraded shares of PDC Energy (NASDAQ:PDCE) from a hold rating to a buy rating in a research report report published on Friday morning.
PDCE has been the topic of several other reports. BidaskClub upgraded PDC Energy from a sell rating to a hold rating in a report on Friday, December 15th. Barclays raised their target price on PDC Energy from $63.00 to $64.00 and gave the company an overweight rating in a report on Monday, November 20th. Stifel Nicolaus cut their target price on PDC Energy from $83.00 to $81.00 and set a buy rating on the stock in a report on Wednesday, December 13th. Zacks Investment Research upgraded PDC Energy from a hold rating to a buy rating and set a $55.00 target price on the stock in a report on Friday, February 9th. Finally, Williams Capital dropped their price objective on PDC Energy from $64.00 to $60.00 and set a buy rating on the stock in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $67.05.
PDC Energy (NASDAQ PDCE) traded up $0.36 during midday trading on Friday, reaching $51.86. The company’s stock had a trading volume of 1,347,858 shares, compared to its average volume of 782,400. PDC Energy has a one year low of $36.74 and a one year high of $73.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3,392.45, a price-to-earnings ratio of -12.77 and a beta of 0.68.
In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total transaction of $78,120.00. Following the transaction, the chief executive officer now directly owns 168,101 shares in the company, valued at $8,754,700.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $94,911.00. Following the transaction, the director now owns 21,519 shares in the company, valued at $1,201,405.77. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock worth $386,751 over the last 90 days. Corporate insiders own 0.91% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of PDCE. BlackRock Inc. boosted its holdings in PDC Energy by 4.5% during the fourth quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after purchasing an additional 374,797 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in PDC Energy by 4.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,158,037 shares of the energy producer’s stock valued at $162,766,000 after purchasing an additional 139,748 shares in the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 487,816 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in PDC Energy by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock valued at $92,451,000 after purchasing an additional 45,612 shares in the last quarter. Finally, NWQ Investment Management Company LLC boosted its holdings in PDC Energy by 77.8% during the fourth quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after purchasing an additional 727,517 shares in the last quarter.
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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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