BMO Capital Markets set a $55.00 target price on PDC Energy, Inc. (NASDAQ:PDCE) in a research note published on Tuesday morning. The brokerage currently has a hold rating on the energy producer’s stock.
A number of other brokerages also recently issued reports on PDCE. Stifel Nicolaus reissued a buy rating and set a $81.00 price objective (down from $82.00) on shares of PDC Energy in a research report on Tuesday, November 7th. Williams Capital lifted their target price on PDC Energy from $58.00 to $60.00 and gave the company a buy rating in a research report on Wednesday, October 18th. KeyCorp reaffirmed a buy rating and issued a $55.00 target price on shares of PDC Energy in a research report on Tuesday, September 26th. Barclays PLC lifted their target price on PDC Energy from $59.00 to $63.00 and gave the company an overweight rating in a research report on Wednesday, October 11th. Finally, SunTrust Banks, Inc. set a $55.00 target price on PDC Energy and gave the company a buy rating in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $68.95.
Shares of PDC Energy (NASDAQ PDCE) traded down $3.59 during trading hours on Tuesday, hitting $44.62. The company had a trading volume of 2,382,500 shares, compared to its average volume of 1,096,201. 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 cap of $3,175.73, a P/E ratio of 123.61 and a beta of 0.82. PDC Energy has a 1 year low of $36.74 and a 1 year high of $84.88.
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In other news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in PDCE. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after buying an additional 209 shares during the period. Seven Eight Capital LP purchased a new position in shares of PDC Energy in the 2nd quarter valued at about $107,000. Flinton Capital Management LLC boosted its stake in shares of PDC Energy by 67.0% in the 2nd 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 during the period. Dubuque Bank & Trust Co. lifted its stake in PDC Energy by 38.0% during the second quarter. Dubuque Bank & Trust Co. now owns 3,262 shares of the energy producer’s stock worth $141,000 after purchasing an additional 899 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in PDC Energy by 67.7% during the second quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock worth $195,000 after purchasing an additional 1,828 shares during the last quarter.
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.
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