PDC Energy Inc (NASDAQ:PDCE) Receives Consensus Rating of “Buy” from Analysts

Shares of PDC Energy Inc (NASDAQ:PDCE) have received a consensus recommendation of “Buy” from the twenty-six brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $61.88.

Several research firms have recently issued reports on PDCE. Zacks Investment Research lowered PDC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. KeyCorp boosted their price objective on PDC Energy from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. MKM Partners set a $55.00 price objective on PDC Energy and gave the company a “buy” rating in a research report on Friday, March 1st. Williams Capital reiterated a “buy” rating and issued a $61.00 price objective on shares of PDC Energy in a research report on Thursday, May 2nd. Finally, BidaskClub lowered PDC Energy from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

In other news, Director Mark E. Ellis acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $37.30 per share, with a total value of $373,000.00. Following the acquisition, the director now directly owns 17,752 shares in the company, valued at approximately $662,149.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $45.10, for a total value of $67,650.00. Following the completion of the transaction, the insider now directly owns 248,687 shares in the company, valued at $11,215,783.70. The disclosure for this sale can be found here. Insiders have sold a total of 4,714 shares of company stock worth $210,208 over the last three months. 1.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank acquired a new stake in shares of PDC Energy during the 1st quarter worth $205,000. Texas Permanent School Fund grew its holdings in shares of PDC Energy by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 43,242 shares of the energy producer’s stock worth $1,287,000 after purchasing an additional 1,669 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of PDC Energy by 702.1% during the 4th quarter. Squarepoint Ops LLC now owns 66,119 shares of the energy producer’s stock worth $1,968,000 after buying an additional 57,876 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of PDC Energy by 13.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 129,300 shares of the energy producer’s stock worth $3,848,000 after buying an additional 15,138 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of PDC Energy during the 1st quarter worth $502,000.

PDCE stock traded down $0.42 during midday trading on Tuesday, reaching $34.16. The stock had a trading volume of 1,680,395 shares, compared to its average volume of 1,149,797. The business’s fifty day moving average price is $34.00. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -11.69, a price-to-earnings-growth ratio of 0.53 and a beta of 1.04. PDC Energy has a twelve month low of $26.59 and a twelve month high of $65.34.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, May 1st. The energy producer reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). The company had revenue of $134.50 million for the quarter, compared to analyst estimates of $325.83 million. PDC Energy had a negative return on equity of 2.50% and a negative net margin of 7.38%. PDC Energy’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Equities analysts anticipate that PDC Energy will post 2.72 EPS for the current year.

PDC Energy Company Profile

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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