PDC Energy (PDCE) Raised to Buy at Tudor Pickering

Tudor Pickering upgraded shares of PDC Energy (NASDAQ:PDCE) from a hold rating to a buy rating in a research report sent to investors on Friday, February 16th, MarketBeat reports.

A number of other research firms have also recently commented on PDCE. BMO Capital Markets reiterated a hold rating and issued a $58.00 price objective on shares of PDC Energy in a report on Thursday, January 11th. KeyCorp set a $65.00 price objective on PDC Energy and gave the company a buy rating in a research note on Sunday, January 21st. BidaskClub lowered PDC Energy from a buy rating to a hold rating in a report on Friday, January 26th. Stifel Nicolaus reissued a buy rating and issued a $85.00 target price on shares of PDC Energy in a report on Sunday, January 28th. Finally, Mizuho reissued a buy rating and issued a $66.00 target price on shares of PDC Energy in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $67.05.

PDC Energy (PDCE) traded up $2.57 during midday trading on Friday, reaching $54.83. The company had a trading volume of 986,490 shares, compared to its average volume of 856,741. PDC Energy has a 12 month low of $36.74 and a 12 month high of $72.24. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3,790.00, a PE ratio of -13.50 and a beta of 0.68.

In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total transaction of $78,120.00. Following the transaction, the chief executive officer now owns 168,101 shares in the company, valued at approximately $8,754,700.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $55,830.00. Following the completion of the transaction, the chief operating officer now owns 62,338 shares in the company, valued at approximately $3,480,330.54. The disclosure for this sale can be found here. Insiders have sold a total of 7,200 shares of company stock valued at $386,751 over the last three months. Corporate insiders own 0.91% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. MHI Funds LLC acquired a new stake in shares of PDC Energy in the 4th quarter valued at about $138,000. First Mercantile Trust Co. raised its stake in shares of PDC Energy by 93.3% in the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PDC Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after purchasing an additional 1,201 shares in the last quarter. Connable Office Inc. acquired a new stake in shares of PDC Energy in the 3rd quarter valued at about $202,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of PDC Energy in the 4th quarter valued at about $212,000.

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About PDC Energy

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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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