PDC Energy Inc (PDCE) Given Consensus Rating of “Buy” by Brokerages

PDC Energy Inc (NASDAQ:PDCE) has earned a consensus rating of “Buy” from the twenty-six brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $72.59.

Several equities research analysts recently weighed in on the company. BidaskClub cut PDC Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Williams Capital set a $77.00 target price on PDC Energy and gave the stock a “buy” rating in a research note on Monday, August 20th. KLR Group restated a “buy” rating and set a $84.00 target price on shares of PDC Energy in a research note on Monday, August 20th. Credit Suisse Group set a $62.00 target price on PDC Energy and gave the stock a “hold” rating in a research note on Tuesday, August 14th. Finally, BMO Capital Markets set a $62.00 target price on PDC Energy and gave the stock a “hold” rating in a research note on Sunday, August 12th.

In other PDC Energy news, Director David C. Parke sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total value of $31,818.00. Following the completion of the sale, the director now owns 13,341 shares in the company, valued at $707,473.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $59.41, for a total value of $89,115.00. Following the completion of the sale, the insider now owns 206,526 shares of the company’s stock, valued at approximately $12,269,709.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,100 shares of company stock valued at $699,043. 1.00% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC raised its stake in shares of PDC Energy by 74.7% during the second quarter. Moody Aldrich Partners LLC now owns 25,170 shares of the energy producer’s stock worth $1,522,000 after purchasing an additional 10,760 shares during the last quarter. Castleark Management LLC raised its stake in shares of PDC Energy by 2,017.1% during the second quarter. Castleark Management LLC now owns 232,880 shares of the energy producer’s stock worth $14,078,000 after purchasing an additional 221,880 shares during the last quarter. Phocas Financial Corp. raised its stake in shares of PDC Energy by 22.2% during the second quarter. Phocas Financial Corp. now owns 287,042 shares of the energy producer’s stock worth $17,352,000 after purchasing an additional 52,198 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of PDC Energy by 4.3% during the second quarter. Waddell & Reed Financial Inc. now owns 382,220 shares of the energy producer’s stock worth $23,106,000 after purchasing an additional 15,790 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its stake in shares of PDC Energy by 3.6% during the second quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock worth $1,833,000 after purchasing an additional 1,045 shares during the last quarter.

PDCE stock traded up $0.15 during trading on Friday, hitting $48.05. 819,065 shares of the company’s stock were exchanged, compared to its average volume of 928,425. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -13.81, a PEG ratio of 0.51 and a beta of 0.61. PDC Energy has a 52-week low of $41.13 and a 52-week high of $66.20. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.50.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.04). The business had revenue of $212.53 million for the quarter, compared to analysts’ expectations of $308.73 million. PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. PDC Energy’s revenue for the quarter was down 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. sell-side analysts anticipate that PDC Energy will post 2.39 EPS for the current year.

About PDC Energy

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

Featured Article: The Role of a Fiduciary and Individual Investors

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply