Williams Capital Cuts PDC Energy (PDCE) Price Target to $60.00

PDC Energy (NASDAQ:PDCE) had its price target dropped by research analysts at Williams Capital from $64.00 to $60.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the energy producer’s stock. Williams Capital’s target price suggests a potential upside of 35.29% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Imperial Capital assumed coverage on shares of PDC Energy in a research report on Friday, August 18th. They set an “outperform” rating and a $66.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and set a $76.00 price target on shares of PDC Energy in a research report on Wednesday, August 16th. Jefferies Group assumed coverage on shares of PDC Energy in a research report on Monday, October 9th. They set a “buy” rating and a $60.00 price target for the company. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of PDC Energy in a research report on Monday, August 21st. Finally, Credit Suisse Group assumed coverage on shares of PDC Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $51.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.60.

PDC Energy (NASDAQ PDCE) traded down $0.02 on Tuesday, reaching $44.35. 956,018 shares of the company’s stock were exchanged, compared to its average volume of 846,608. PDC Energy has a 12 month low of $36.74 and a 12 month high of $80.82. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2,921.47, a price-to-earnings ratio of 113.72 and a beta of 0.80.

In other news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $49.64, for a total transaction of $49,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of PDCE. Aperio Group LLC increased its holdings in shares of 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 in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of 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 in the last quarter. Great West Life Assurance Co. Can increased its holdings in PDC Energy by 4.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 82,891 shares of the energy producer’s stock worth $3,572,000 after acquiring an additional 3,671 shares in the last quarter. Retirement Systems of Alabama increased its holdings in PDC Energy by 41.5% in the 2nd quarter. Retirement Systems of Alabama now owns 44,300 shares of the energy producer’s stock worth $1,910,000 after acquiring an additional 13,000 shares in the last quarter. Finally, TD Asset Management Inc. increased its holdings in PDC Energy by 23.8% in the 2nd quarter. TD Asset Management Inc. now owns 49,502 shares of the energy producer’s stock worth $2,134,000 after acquiring an additional 9,502 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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