PDC Energy (NASDAQ:PDCE) has been given a $65.00 target price by equities researchers at KeyCorp in a research report issued to clients and investors on Sunday. The firm presently has a “buy” rating on the energy producer’s stock. KeyCorp’s price objective indicates a potential upside of 18.25% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $81.00 price target (down from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. BidaskClub lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Williams Capital upped their price objective on shares of PDC Energy from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Credit Suisse Group initiated coverage on shares of PDC Energy in a research note on Monday, December 11th. They issued a “neutral” rating and a $51.00 price objective on the stock. Finally, Barclays upped their price objective on shares of PDC Energy from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. PDC Energy currently has an average rating of “Buy” and a consensus target price of $66.37.
Shares of PDC Energy (NASDAQ:PDCE) traded up $1.10 during midday trading on Friday, reaching $54.97. 716,600 shares of the company’s stock traded hands, compared to its average volume of 830,569. 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 1 year low of $36.74 and a 1 year high of $78.61. The firm has a market cap of $3,620.00, a PE ratio of -13.54 and a beta of 0.79.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Monday, November 6th. The energy producer reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. PDC Energy had a negative net margin of 29.31% and a positive return on equity of 0.94%. analysts expect that PDC Energy will post -3.55 EPS for the current year.
In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total transaction of $78,120.00. Following the transaction, the chief executive officer now directly owns 168,101 shares of the company’s stock, valued at $8,754,700.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey C. Swoveland sold 1,700 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $94,911.00. Following the transaction, the director now directly owns 21,519 shares in the company, valued at $1,201,405.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,700 shares of company stock worth $308,961. 0.91% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PDC Energy by 9.6% during 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. Ameritas Investment Partners Inc. boosted its stake in PDC Energy by 24.0% during the second quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock worth $250,000 after acquiring an additional 1,123 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in PDC Energy by 14.9% during the third quarter. Moody Aldrich Partners LLC now owns 8,741 shares of the energy producer’s stock worth $429,000 after acquiring an additional 1,136 shares in the last quarter. Flinton Capital Management LLC lifted its stake in shares of PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of PDC Energy by 19.0% in the second quarter. Amalgamated Bank now owns 8,474 shares of the energy producer’s stock valued at $365,000 after buying an additional 1,354 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.