PDC Energy Upgraded to Buy at Miller Tabak (PDCE)
PDC Energy (NASDAQ:PDCE) was upgraded by investment analysts at Miller Tabak from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $69.00 price objective on the stock. Miller Tabak’s price objective suggests a potential upside of 42.62% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. upgraded shares of PDC Energy from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, January 8th. Separately, analysts at Ned Davis Research downgraded shares of PDC Energy from a “neutral” rating to a “sell” rating in a research note to investors on Monday, December 23rd. Finally, analysts at KLR Group upgraded shares of PDC Energy to a “hold” rating in a research note to investors on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. PDC Energy has an average rating of “Buy” and a consensus price target of $72.40.
Shares of PDC Energy (NASDAQ:PDCE) traded up 2.48% on Thursday, hitting $49.58. The stock had a trading volume of 588,573 shares. PDC Energy has a 52-week low of $36.51 and a 52-week high of $73.93. The stock’s 50-day moving average is $53.56 and its 200-day moving average is $57.97. The company’s market cap is $1.735 billion.
PDC Energy (NASDAQ:PDCE) last announced its 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. Analysts expect that PDC Energy will post $-0.86 EPS 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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