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Equities researchers at GMP Securities began coverage on shares of PDC Energy (NASDAQ:PDCE) in a research report issued on Tuesday, reports. The firm set a “buy” rating and a $86.00 price target on the stock. GMP Securities’ target price would indicate a potential upside of 26.92% from the stock’s previous close.

PDC Energy (NASDAQ:PDCE) traded down 0.89% on Tuesday, hitting $67.16. The stock had a trading volume of 55,953 shares. PDC Energy has a one year low of $44.72 and a one year high of $73.93. The stock’s 50-day moving average is $63.32 and its 200-day moving average is $58.13. The company has a market cap of $2.356 billion and a P/E ratio of 155.06.

PDC Energy (NASDAQ:PDCE) last released its earnings data 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 $1.36 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil raised their price target on shares of PDC Energy from $77.00 to $84.00 in a research note on Tuesday, June 17th. They now have a “hold” rating on the stock. Separately, analysts at Brean Capital reiterated a “positive” rating on shares of PDC Energy in a research note on Thursday, June 12th. They now have a $75.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of PDC Energy from $72.00 to $81.00 in a research note on Friday, May 16th. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $76.76.

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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