PDC Energy’s (PDCE) “Buy” Rating Reaffirmed at KeyCorp
PDC Energy, Inc. (NASDAQ:PDCE)‘s stock had its “buy” rating reiterated by investment analysts at KeyCorp in a research note issued on Tuesday. They currently have a $55.00 price target on the energy producer’s stock. KeyCorp’s price target indicates a potential upside of 12.22% from the stock’s previous close.
Other research analysts have also issued reports about the company. Williams Capital set a $67.00 price target on PDC Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered PDC Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 8th. Mizuho upgraded PDC Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. Seaport Global Securities upgraded PDC Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $76.00 price target on shares of PDC Energy in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $70.41.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping 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 business had revenue of $275.20 million during the quarter, compared to analyst estimates of $218.90 million. During the same period last year, the business posted ($0.11) earnings per share. The company’s quarterly revenue was up 1269.2% on a year-over-year basis.
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Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after buying an additional 209 shares in the last quarter. Seven Eight Capital LP acquired a new stake in PDC Energy in the second quarter valued at $107,000. Integrated Investment Consultants LLC raised its stake in PDC Energy by 27.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock valued at $109,000 after buying an additional 547 shares in the last quarter. Flinton Capital Management LLC raised its stake in PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares in the last quarter. Finally, Invictus RG raised its stake in PDC Energy by 11.2% in the first quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock valued at $134,000 after buying an additional 216 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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