RBC Capital Increases PDC Energy Price Target to $72.00 (PDCE)
Research analysts at RBC Capital hoisted their price objective on shares of PDC Energy (NASDAQ:PDCE) from $63.00 to $72.00 in a report released on Friday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective indicates a potential upside of 13.64% from the stock’s previous close.
PDCE has been the subject of a number of other recent research reports. Analysts at Howard Weil raised their price target on shares of PDC Energy from $62.00 to $71.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of PDC Energy from $79.00 to $87.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Brean Capital raised their price target on shares of PDC Energy from $66.00 to $85.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $69.85.
Shares of PDC Energy (NASDAQ:PDCE) traded down 6.56% on Friday, hitting $63.36. 1,623,930 shares of the company’s stock traded hands. PDC Energy has a 52-week low of $25.76 and a 52-week high of $60.17. The stock’s 50-day moving average is $64.91 and its 200-day moving average is $55.38. The company’s market cap is $1.882 billion.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.31. The company had revenue of $77.10 million for the quarter, compared to the consensus estimate of $103.26 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 135.8% on a year-over-year basis. On average, analysts predict that PDC Energy will post $-0.10 earnings per share for the current fiscal year.
PDC Energy, Inc (NASDAQ:PDCE) doing business as PDC Energy, is a domestic independent exploration and production company, which acquires, develops, explores, and produces natural gas, natural gas liquids (NGLs), and crude oil.
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