PDC Energy (NASDAQ:PDCE) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other research analysts have also recently issued reports on PDCE. Seaport Global Securities raised PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. Mizuho raised PDC Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. Imperial Capital initiated coverage on PDC Energy in a research note on Friday, August 18th. They issued an “outperform” rating and a $66.00 price objective on the stock. KeyCorp reaffirmed a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a research note on Tuesday, September 26th. Finally, Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of PDC Energy in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $69.00.

Shares of PDC Energy (NASDAQ PDCE) traded up $1.43 during trading hours on Thursday, reaching $44.47. The company’s stock had a trading volume of 808,312 shares, compared to its average volume of 998,907. The stock has a market capitalization of $2,835.17, a PE ratio of 110.36 and a beta of 0.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. PDC Energy has a fifty-two week low of $36.74 and a fifty-two week high of $84.88.

In related news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PDCE. Aperio Group LLC raised its stake in PDC Energy by 40.4% during the 2nd quarter. Aperio Group LLC now owns 21,933 shares of the energy producer’s stock valued at $946,000 after purchasing an additional 6,307 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in PDC Energy by 3.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,200 shares of the energy producer’s stock valued at $569,000 after purchasing an additional 480 shares during the period. Great West Life Assurance Co. Can raised its stake in PDC Energy by 4.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 82,891 shares of the energy producer’s stock valued at $3,572,000 after purchasing an additional 3,671 shares during the period. Texas Permanent School Fund raised its stake in PDC Energy by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 40,812 shares of the energy producer’s stock valued at $1,759,000 after purchasing an additional 342 shares during the period. Finally, Retirement Systems of Alabama raised its stake in PDC Energy by 41.5% during the 2nd quarter. Retirement Systems of Alabama now owns 44,300 shares of the energy producer’s stock valued at $1,910,000 after purchasing an additional 13,000 shares during the period.

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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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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