Investment analysts at Credit Suisse Group assumed coverage on shares of PDC Energy (NASDAQ:PDCE) in a research note issued to investors on Monday, December 11th, Marketbeat reports. The firm set a “neutral” rating and a $51.00 price target on the energy producer’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 1.57% from the company’s current price.
PDCE has been the topic of a number of other reports. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of PDC Energy in a report on Monday, August 21st. Wolfe Research assumed coverage on PDC Energy in a report on Tuesday, November 14th. They issued a “market perform” rating on the stock. KeyCorp reissued a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a report on Tuesday, September 26th. Stifel Nicolaus increased their price objective on PDC Energy from $69.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Imperial Capital assumed coverage on PDC Energy in a report on Friday, August 18th. They issued an “outperform” rating and a $66.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.60.
Shares of PDC Energy (NASDAQ:PDCE) traded up $1.42 during mid-day trading on Monday, hitting $50.21. The stock had a trading volume of 654,105 shares, compared to its average volume of 934,772. 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 firm has a market capitalization of $3,213.93, a price-to-earnings ratio of -12.37 and a beta of 0.80. PDC Energy has a fifty-two week low of $36.74 and a fifty-two week high of $78.61.
A number of hedge funds have recently modified their holdings of PDCE. Rhumbline Advisers lifted its position in shares of PDC Energy by 8.7% during the second quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock worth $5,591,000 after purchasing an additional 10,360 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of PDC Energy in the third quarter worth about $666,000. Monarch Partners Asset Management LLC bought a new position in shares of PDC Energy in the third quarter worth about $8,790,000. Stevens Capital Management LP bought a new position in shares of PDC Energy in the second quarter worth about $978,000. Finally, New York State Common Retirement Fund raised its stake in shares of PDC Energy by 3.9% in the third quarter. New York State Common Retirement Fund now owns 506,655 shares of the energy producer’s stock worth $24,841,000 after acquiring an additional 18,821 shares during the last quarter.
WARNING: This news story was published by American Banking and Market News and is the sole property of of American Banking and Market News. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/24/credit-suisse-group-initiates-coverage-on-pdc-energy-pdce.html.
PDC Energy Company Profile
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.
