Stifel Nicolaus Boosts PDC Energy Inc (PDCE) Price Target to $82.00
PDC Energy Inc (NASDAQ:PDCE) had its price objective raised by Stifel Nicolaus from $69.00 to $82.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the energy producer’s stock. Stifel Nicolaus’ price target indicates a potential upside of 68.31% from the stock’s previous close.
PDCE has been the topic of a number of other research reports. BidaskClub downgraded shares of PDC Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating and set a $48.00 price objective on shares of PDC Energy in a report on Friday, September 1st. Seaport Global Securities downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $89.00 to $46.00 in a report on Wednesday, June 21st. Barclays PLC boosted their price objective on shares of PDC Energy from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America Corporation initiated coverage on shares of PDC Energy in a report on Wednesday, July 19th. They set a “buy” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. PDC Energy currently has a consensus rating of “Hold” and an average target price of $69.73.
Shares of PDC Energy (PDCE) opened at 48.72 on Friday. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88. The stock’s 50 day moving average is $44.45 and its 200 day moving average is $48.39. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 345.53 and a beta of 0.84.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The firm had revenue of $275.20 million for the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a net margin of 14.99% and a return on equity of 6.14%. The firm’s revenue was up 1269.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, equities analysts forecast that PDC Energy will post $0.21 EPS for the current year.
Several large investors have recently bought and sold shares of PDCE. BlackRock Inc. increased its position in PDC Energy by 47,702.8% during the first quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock worth $429,640,000 after purchasing an additional 6,876,357 shares during the last quarter. Victory Capital Management Inc. acquired a new position in PDC Energy during the second quarter worth approximately $112,887,000. Causeway Capital Management LLC acquired a new position in PDC Energy during the second quarter worth approximately $110,908,000. UBS Group AG increased its position in PDC Energy by 101.1% during the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after purchasing an additional 1,395,552 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in PDC Energy by 31.2% during the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the energy producer’s stock worth $265,176,000 after purchasing an additional 940,134 shares during 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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