Williams Capital set a $77.00 price objective on PDC Energy (NASDAQ:PDCE) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the energy producer’s stock.
PDCE has been the subject of several other reports. Zacks Investment Research cut PDC Energy from a buy rating to a hold rating in a research report on Friday, August 3rd. Oppenheimer started coverage on PDC Energy in a research report on Wednesday, October 3rd. They set a market perform rating for the company. Jefferies Financial Group set a $86.00 price objective on PDC Energy and gave the stock a buy rating in a research report on Thursday, July 19th. Macquarie cut PDC Energy from an outperform rating to a neutral rating and set a $65.00 price objective for the company. in a research report on Tuesday, August 7th. Finally, BidaskClub cut PDC Energy from a hold rating to a sell rating in a research report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $71.25.
Shares of NASDAQ:PDCE traded up $4.63 on Tuesday, hitting $51.48. 1,637,584 shares of the company’s stock were exchanged, compared to its average volume of 1,310,487. The stock has a market cap of $2.92 billion, a P/E ratio of -14.79, a P/E/G ratio of 0.52 and a beta of 0.66. PDC Energy has a 1-year low of $40.62 and a 1-year high of $66.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.36.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Monday, November 5th. The energy producer reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The business had revenue of $280.70 million for the quarter, compared to analyst estimates of $337.69 million. PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The company’s revenue was up 53.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.85) earnings per share. On average, equities research analysts predict that PDC Energy will post 2.2 EPS for the current year.
In other PDC Energy news, EVP Lance Lauck sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $52.50, for a total transaction of $26,250.00. Following the completion of the sale, the executive vice president now directly owns 94,728 shares of the company’s stock, valued at approximately $4,973,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $45.00, for a total value of $67,500.00. Following the sale, the insider now directly owns 200,526 shares of the company’s stock, valued at $9,023,670. The disclosure for this sale can be found here. Insiders sold a total of 11,941 shares of company stock valued at $619,665 over the last three months. Company insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PDCE. Russell Investments Group Ltd. purchased a new stake in PDC Energy during the 1st quarter valued at approximately $192,000. LPL Financial LLC raised its stake in PDC Energy by 40.9% during the 1st quarter. LPL Financial LLC now owns 7,997 shares of the energy producer’s stock valued at $392,000 after acquiring an additional 2,320 shares during the last quarter. Millennium Management LLC raised its stake in PDC Energy by 205.7% during the 1st quarter. Millennium Management LLC now owns 181,768 shares of the energy producer’s stock valued at $8,912,000 after acquiring an additional 122,300 shares during the last quarter. Royal Bank of Canada raised its stake in PDC Energy by 994.8% during the 1st quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock valued at $228,000 after acquiring an additional 4,228 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in PDC Energy by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 514,593 shares of the energy producer’s stock valued at $25,230,000 after acquiring an additional 14,664 shares during the last quarter.
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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