PDC Energy, Inc. (PDCE) Earns Market Perform Rating from Analysts at Wolfe Research
Stock analysts at Wolfe Research assumed coverage on shares of PDC Energy, Inc. (NASDAQ:PDCE) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the energy producer’s stock.
A number of other equities research analysts also recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $81.00 price objective (down previously from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. SunTrust Banks, Inc. set a $55.00 price objective on PDC Energy and gave the company a “buy” rating in a research report on Sunday, October 29th. Mizuho reaffirmed a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a research report on Friday, October 27th. Williams Capital lifted their price objective on PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Barclays PLC lifted their price objective 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 investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $68.86.
Shares of PDC Energy (PDCE) traded down $1.79 during trading hours on Tuesday, hitting $48.21. The stock had a trading volume of 1,547,900 shares, compared to its average volume of 1,090,328. The stock has a market capitalization of $3,293.64, a P/E ratio of 128.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. PDC Energy has a twelve month low of $36.74 and a twelve month high of $84.88.
In related news, COO Scott J. Reasoner sold 1,000 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.91% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. lifted its stake in shares of PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the energy producer’s stock worth $101,000 after acquiring an additional 165 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after acquiring an additional 209 shares in the last quarter. Flinton Capital Management LLC bought a new stake in PDC Energy in the fourth quarter valued at about $106,000. Seven Eight Capital LP bought a new stake in PDC Energy in the second quarter valued at about $107,000. Finally, Integrated Investment Consultants LLC increased its holdings 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 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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