PDC Energy, Inc. (PDCE) Given “Buy” Rating at Stifel Nicolaus
PDC Energy, Inc. (NASDAQ:PDCE)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a report released on Wednesday. They currently have a $76.00 price target on the energy producer’s stock. Stifel Nicolaus’ target price suggests a potential upside of 95.57% from the company’s current price.
Several other brokerages have also recently commented on PDCE. Iberia Capital reissued a “sector perform” rating and set a $65.00 price target on shares of PDC Energy in a research report on Wednesday, April 26th. Royal Bank Of Canada reissued a “buy” rating and set a $82.00 price target on shares of PDC Energy in a research report on Tuesday, April 25th. Williams Capital reduced their price target on PDC Energy from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Barclays PLC reissued a “buy” rating and set a $80.00 price target (down from $89.00) on shares of PDC Energy in a research report on Thursday, April 20th. Finally, Credit Suisse Group cut PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 price target for the company. in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $71.82.
Shares of PDC Energy (NASDAQ:PDCE) traded down 2.17% during midday trading on Wednesday, hitting $38.86. The stock had a trading volume of 903,850 shares. PDC Energy has a one year low of $38.54 and a one year high of $84.88. The firm’s 50-day moving average is $43.72 and its 200 day moving average is $55.60. The company has a market capitalization of $2.54 billion, a PE ratio of 275.60 and a beta of 0.81.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The firm had revenue of $275.20 million during the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up 1269.2% compared to the same quarter last year. Equities analysts expect that PDC Energy will post $0.16 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Guggenheim Capital LLC increased its position in shares of PDC Energy by 19.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,924 shares of the energy producer’s stock worth $792,000 after buying an additional 1,748 shares in the last quarter. Teachers Advisors LLC increased its position in shares of PDC Energy by 22.5% in the fourth quarter. Teachers Advisors LLC now owns 101,701 shares of the energy producer’s stock worth $7,381,000 after buying an additional 18,675 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of PDC Energy during the fourth quarter worth about $267,000. Bank of Montreal Can increased its position in shares of PDC Energy by 8.8% in the first quarter. Bank of Montreal Can now owns 82,450 shares of the energy producer’s stock worth $5,140,000 after buying an additional 6,671 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of PDC Energy by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the energy producer’s stock worth $1,422,000 after buying an additional 400 shares in the last quarter.
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.
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