PDC Energy (NASDAQ:PDCE) has been assigned an average rating of “Buy” from the twenty-four brokerages that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $67.93.
PDCE has been the subject of a number of recent analyst reports. Goldman Sachs upgraded PDC Energy from a “neutral” rating to a “buy” rating in a research report on Thursday, April 12th. Imperial Capital increased their price target on PDC Energy from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Jefferies Group reiterated a “buy” rating and issued a $70.00 price target on shares of PDC Energy in a research report on Thursday, April 26th. Mitsubishi UFJ Financial Group upgraded PDC Energy from a “neutral” rating to an “overweight” rating in a research report on Thursday, March 1st. Finally, ValuEngine upgraded PDC Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd.
In other news, Director Jeffrey C. Swoveland sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $55.07, for a total transaction of $192,745.00. Following the completion of the sale, the director now directly owns 21,454 shares of the company’s stock, valued at approximately $1,181,471.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lance Lauck sold 500 shares of the firm’s stock in a transaction dated Friday, April 13th. The stock was sold at an average price of $52.50, for a total value of $26,250.00. Following the sale, the executive vice president now directly owns 98,728 shares of the company’s stock, valued at $5,183,220. The disclosure for this sale can be found here. Insiders have sold a total of 32,614 shares of company stock valued at $1,747,432 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of PDC Energy by 4.5% during the 4th quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock worth $445,509,000 after purchasing an additional 374,797 shares in the last quarter. Rhumbline Advisers raised its stake in shares of PDC Energy by 15.6% during the 4th quarter. Rhumbline Advisers now owns 162,421 shares of the energy producer’s stock worth $8,371,000 after purchasing an additional 21,945 shares in the last quarter. First Interstate Bank raised its stake in shares of PDC Energy by 120.8% during the 4th quarter. First Interstate Bank now owns 5,830 shares of the energy producer’s stock worth $300,000 after purchasing an additional 3,190 shares in the last quarter. Deutsche Bank AG raised its stake in shares of PDC Energy by 66.9% during the 4th quarter. Deutsche Bank AG now owns 248,366 shares of the energy producer’s stock worth $12,798,000 after purchasing an additional 99,554 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of PDC Energy by 1.8% during the 4th quarter. Swiss National Bank now owns 94,366 shares of the energy producer’s stock worth $4,864,000 after purchasing an additional 1,700 shares in the last quarter.
PDC Energy opened at $61.79 on Monday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.54. PDC Energy has a 1-year low of $59.69 and a 1-year high of $60.30. The firm has a market capitalization of $3.97 billion, a P/E ratio of 107.20, a P/E/G ratio of 0.65 and a beta of 0.67.
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, beating the Zacks’ consensus estimate of $0.21 by $0.03. PDC Energy had a positive return on equity of 1.47% and a negative net margin of 19.50%. The business had revenue of $189.52 million during the quarter, compared to analyst estimates of $263.28 million. research analysts expect that PDC Energy will post 2.39 EPS for the current fiscal year.
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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