PDC Energy Inc. (NASDAQ:PDCE)’s share price was up 3.4% during mid-day trading on Wednesday . The company traded as high as $66.30 and last traded at $66.17, with a volume of 653,119 shares. The stock had previously closed at $64.00.

A number of equities analysts recently issued reports on PDCE shares. Zacks Investment Research raised shares of PDC Energy from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Saturday, July 23rd. Canaccord Genuity set a $80.00 price target on shares of PDC Energy and gave the company a “buy” rating in a report on Monday, August 29th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of PDC Energy in a report on Wednesday, June 8th. Bank of America Corp. reaffirmed a “buy” rating and set a $76.00 price target on shares of PDC Energy in a report on Wednesday, August 24th. Finally, Royal Bank Of Canada lifted their price target on shares of PDC Energy from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, August 10th. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. PDC Energy has a consensus rating of “Buy” and a consensus target price of $72.67.

The firm has a 50 day moving average price of $63.19 and a 200-day moving average price of $59.12. The firm’s market capitalization is $3.10 billion.

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PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. The firm earned $20.10 million during the quarter, compared to analysts’ expectations of $160.18 million. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. The company’s revenue for the quarter was down 60.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities research analysts anticipate that PDC Energy Inc. will post ($0.35) EPS for the current year.

In other PDC Energy news, Director David C. Parke sold 500 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $61.84, for a total value of $30,920.00. Following the transaction, the director now owns 17,717 shares in the company, valued at approximately $1,095,619.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of PDC Energy during the fourth quarter worth about $12,507,000. Moody Aldrich Partners LLC bought a new stake in shares of PDC Energy during the first quarter worth about $496,000. Texas Permanent School Fund increased its stake in shares of PDC Energy by 9.2% in the first quarter. Texas Permanent School Fund now owns 36,227 shares of the company’s stock worth $2,154,000 after buying an additional 3,040 shares during the period. Aperio Group LLC increased its stake in shares of PDC Energy by 5.8% in the first quarter. Aperio Group LLC now owns 12,329 shares of the company’s stock worth $733,000 after buying an additional 673 shares during the period. Finally, Nisa Investment Advisors L.L.C. increased its stake in shares of PDC Energy by 70.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 23,400 shares of the company’s stock worth $1,391,000 after buying an additional 9,700 shares during the period. Institutional investors own 95.50% of the company’s stock.

About PDC Energy

PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.

5 Day Chart for NASDAQ:PDCE

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