PDC Energy Price Target Increased to $81.00 by Analysts at JPMorgan Chase & Co. (PDCE)
Analysts at JPMorgan Chase & Co. lifted their price target on shares of PDC Energy (NASDAQ:PDCE) from $72.00 to $81.00 in a research report issued to clients and investors on Friday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 36.96% from the company’s current price.
PDC Energy (NASDAQ:PDCE) opened at 59.14 on Friday. PDC Energy has a 52-week low of $44.72 and a 52-week high of $73.93. The stock has a 50-day moving average of $61.30 and a 200-day moving average of $57.56. The company has a market cap of $2.075 billion and a price-to-earnings ratio of 135.33.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.09. The company had revenue of $129.80 million for the quarter, compared to the consensus estimate of $136.93 million. During the same quarter in the previous year, the company posted ($1.30) earnings per share. The company’s revenue for the quarter was up 63.5% on a year-over-year basis. Analysts expect that PDC Energy will post $1.45 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at KLR Group raised their price target on shares of PDC Energy from $1.00 to $60.00 in a research note on Friday, May 9th. Separately, analysts at Brean Capital initiated coverage on shares of PDC Energy in a research note on Thursday, May 8th. They set a “buy” rating and a $75.00 price target on the stock. Finally, analysts at MLV & Co
raised their price target on shares of PDC Energy from $77.00 to $84.00 in a research note on Wednesday, April 23rd. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $75.38.
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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