SunTrust Banks, Inc. Reiterates “$55.00” Price Target for PDC Energy, Inc. (PDCE)
PDC Energy, Inc. (NASDAQ:PDCE) has been given a $55.00 price objective by investment analysts at SunTrust Banks, Inc. in a report issued on Sunday. The firm currently has a “buy” rating on the energy producer’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 14.04% from the company’s current price.
A number of other brokerages have also recently weighed in on PDCE. Williams Capital raised their price target on PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. KeyCorp restated a “buy” rating and issued a $55.00 price target on shares of PDC Energy in a research report on Tuesday, September 26th. Stifel Nicolaus set a $69.00 price target on PDC Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets set a $53.00 price target on PDC Energy and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Barclays PLC raised their price target on PDC Energy from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. PDC Energy currently has an average rating of “Hold” and an average price target of $68.78.
Shares of PDC Energy (PDCE) opened at 48.23 on Friday. The firm’s 50-day moving average is $46.81 and its 200 day moving average is $47.22. The firm has a market cap of $3.15 billion, a PE ratio of 342.06 and a beta of 0.84. PDC Energy has a 52 week low of $36.74 and a 52 week high of $84.88.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $218.90 million. During the same quarter last year, the business posted ($0.11) earnings per share. The business’s revenue for the quarter was up 1269.2% on a year-over-year basis. Equities research analysts forecast that PDC Energy will post $0.21 EPS for the current year.
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In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Honkamp Krueger Financial Services Inc. raised its holdings in shares of PDC Energy by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 13,424 shares of the energy producer’s stock worth $579,000 after purchasing an additional 40 shares during the period. Amalgamated Bank raised its holdings in shares of PDC Energy by 0.9% in the 1st quarter. Amalgamated Bank now owns 7,120 shares of the energy producer’s stock worth $444,000 after purchasing an additional 64 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of PDC Energy by 2.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,784 shares of the energy producer’s stock worth $236,000 after purchasing an additional 93 shares during the period. Arizona State Retirement System raised its holdings in shares of PDC Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock worth $1,259,000 after purchasing an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after purchasing an additional 209 shares during the period.
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.
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