PDC Energy, Inc. (NASDAQ:PDCE) has been given a $67.00 target price by Williams Capital in a research note issued on Tuesday. The firm presently has a “buy” rating on the energy producer’s stock. Williams Capital’s target price would suggest a potential upside of 48.66% from the company’s previous close.

A number of other research firms have also commented on PDCE. Zacks Investment Research lowered PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Iberia Capital reiterated a “sector perform” rating and issued a $65.00 price objective on shares of PDC Energy in a research note on Wednesday, April 26th. Royal Bank Of Canada reiterated a “buy” rating and issued a $82.00 price objective on shares of PDC Energy in a research note on Tuesday, April 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price objective on shares of PDC Energy in a research note on Tuesday, April 25th. Finally, Barclays PLC restated a “buy” rating and set a $80.00 price target (down from $89.00) on shares of PDC Energy in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.05.

PDC Energy (PDCE) traded down 11.98% during midday trading on Tuesday, hitting $39.67. The stock had a trading volume of 392,405 shares. PDC Energy has a 12-month low of $38.92 and a 12-month high of $84.88. The stock’s market cap is $2.59 billion. The company’s 50-day moving average price is $44.58 and its 200 day moving average price is $57.92.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Friday, May 5th. The energy producer reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. The business had revenue of $273.70 million during the quarter, compared to the consensus estimate of $182.05 million. PDC Energy had a negative return on equity of 0.20% and a negative net margin of 22.67%. The company’s revenue for the quarter was up 201.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.89) earnings per share. On average, equities research analysts predict that PDC Energy will post $0.04 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Airain ltd acquired a new position in shares of PDC Energy during the second quarter valued at approximately $270,000. Victory Capital Management Inc. increased its position in shares of PDC Energy by 8.2% in the second quarter. Victory Capital Management Inc. now owns 2,975,864 shares of the energy producer’s stock valued at $128,290,000 after buying an additional 224,957 shares during the last quarter. Caymus Capital Partners L.P. increased its position in shares of PDC Energy by 28.7% in the second quarter. Caymus Capital Partners L.P. now owns 1,144,400 shares of the energy producer’s stock valued at $49,335,000 after buying an additional 255,200 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of PDC Energy by 37.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 45,778 shares of the energy producer’s stock valued at $1,973,000 after buying an additional 12,572 shares during the last quarter. Finally, Comerica Bank increased its position in shares of PDC Energy by 1.4% in the second quarter. Comerica Bank now owns 66,958 shares of the energy producer’s stock valued at $3,004,000 after buying an additional 895 shares during the last quarter.

PDC Energy Company Profile

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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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