BidaskClub upgraded shares of PDC Energy (NASDAQ:PDCE) from a sell rating to a hold rating in a research report released on Wednesday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised PDC Energy from a hold rating to a buy rating and set a $55.00 price target for the company in a research report on Friday, February 9th. Stifel Nicolaus reaffirmed a buy rating and set a $85.00 price target on shares of PDC Energy in a research report on Sunday, January 28th. KeyCorp set a $65.00 price target on PDC Energy and gave the stock a buy rating in a research report on Sunday, January 21st. Mizuho reaffirmed a buy rating and set a $66.00 price target on shares of PDC Energy in a research report on Wednesday, January 17th. Finally, Williams Capital reiterated a buy rating and set a $76.00 price objective (up previously from $69.00) on shares of PDC Energy in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. PDC Energy has an average rating of Buy and a consensus target price of $67.06.
NASDAQ:PDCE opened at $56.41 on Wednesday. PDC Energy has a twelve month low of $36.74 and a twelve month high of $59.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $3,754.09, a price-to-earnings ratio of -16.21, a PEG ratio of 0.62 and a beta of 0.66.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%. The firm had revenue of $189.52 million during the quarter, compared to the consensus estimate of $263.28 million. sell-side analysts forecast that PDC Energy will post 2.39 earnings per share for the current fiscal year.
In other news, EVP Lance Lauck sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $53.95, for a total transaction of $539,500.00. Following the completion of the transaction, the executive vice president now directly owns 100,228 shares in the company, valued at $5,407,300.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $51.86, for a total value of $77,790.00. Following the transaction, the chief executive officer now owns 173,473 shares of the company’s stock, valued at $8,996,309.78. The disclosure for this sale can be found here. Insiders sold 32,114 shares of company stock worth $1,715,767 over the last ninety days. 0.91% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. MHI Funds LLC bought a new position in shares of PDC Energy during the fourth quarter worth about $138,000. First Mercantile Trust Co. increased its holdings in PDC Energy by 93.3% in the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after purchasing an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PDC Energy by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock worth $185,000 after purchasing an additional 1,201 shares in the last quarter. ETRADE Capital Management LLC bought a new stake in PDC Energy in the fourth quarter worth approximately $212,000. Finally, Jane Street Group LLC bought a new stake in PDC Energy in the fourth quarter worth approximately $212,000.
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PDC Energy Company Profile
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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