PDC Energy (NASDAQ:PDCE) had its price objective decreased by equities research analysts at Stifel Nicolaus from $83.00 to $81.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 81.78% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Williams Capital dropped their price objective on PDC Energy from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday. Credit Suisse Group assumed coverage on PDC Energy in a research note on Monday. They issued a “neutral” rating and a $51.00 price objective on the stock. BidaskClub lowered PDC Energy from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Barclays boosted their target price on PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Finally, BMO Capital Markets set a $55.00 target price on PDC Energy and gave the company a “hold” rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.18.

Shares of PDC Energy (NASDAQ PDCE) traded down $0.84 during trading hours on Wednesday, hitting $44.56. The stock had a trading volume of 817,901 shares, compared to its average volume of 1,083,332. The firm has a market cap of $2,953.74, a P/E ratio of 114.97 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 12 month low of $36.74 and a 12 month high of $81.87.

In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PDCE. Vanguard Group Inc. increased its holdings in PDC Energy by 13.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after purchasing an additional 677,329 shares in the last quarter. State Street Corp increased its holdings in PDC Energy by 24.8% during the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after purchasing an additional 487,816 shares in the last quarter. Precocity Capital LP bought a new stake in PDC Energy during the 3rd quarter worth approximately $21,083,000. BlackRock Inc. increased its holdings in PDC Energy by 5.5% during the 2nd quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock worth $313,529,000 after purchasing an additional 381,958 shares in the last quarter. Finally, Caymus Capital Partners L.P. grew its holdings in shares of PDC Energy by 33.3% in the third quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock valued at $74,785,000 after acquiring an additional 380,900 shares in the last quarter.

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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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