PDC Energy (NASDAQ:PDCE) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
A number of other equities analysts have also weighed in on the company. Goldman Sachs Group upgraded PDC Energy from a “neutral” rating to a “buy” rating in a research note on Thursday, April 12th. Stifel Nicolaus set a $95.00 target price on PDC Energy and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Johnson Rice started coverage on PDC Energy in a research note on Wednesday, March 21st. They set a “buy” rating and a $66.00 target price on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $62.00 target price (up previously from $59.00) on shares of PDC Energy in a research note on Tuesday, February 27th. Finally, UBS Group upgraded PDC Energy from a “neutral” rating to an “overweight” rating in a research note on Thursday, March 1st. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. PDC Energy currently has an average rating of “Buy” and an average price target of $67.35.
NASDAQ:PDCE opened at $61.22 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -17.59, a price-to-earnings-growth ratio of 0.74 and a beta of 0.66. PDC Energy has a 12-month low of $36.74 and a 12-month high of $66.20.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, May 2nd. The energy producer reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.34). The firm had revenue of $260.60 million for the quarter, compared to the consensus estimate of $270.04 million. PDC Energy had a positive return on equity of 1.47% and a negative net margin of 19.50%. PDC Energy’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. equities research analysts predict that PDC Energy will post 2.17 EPS for the current fiscal year.
In other PDC Energy news, Director Larry F. Mazza sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $61.00, for a total value of $244,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $48.92, for a total value of $73,380.00. Following the completion of the sale, the insider now directly owns 211,026 shares in the company, valued at approximately $10,323,391.92. The disclosure for this sale can be found here. Insiders have sold 19,545 shares of company stock worth $1,155,768 in the last three months. 1.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of PDC Energy by 0.7% in the 1st quarter. BlackRock Inc. now owns 8,704,431 shares of the energy producer’s stock valued at $426,779,000 after purchasing an additional 60,447 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PDC Energy by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,483,300 shares of the energy producer’s stock valued at $219,816,000 after purchasing an additional 202,845 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of PDC Energy by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,793,761 shares of the energy producer’s stock valued at $92,451,000 after purchasing an additional 45,612 shares in the last quarter. NWQ Investment Management Company LLC boosted its holdings in shares of PDC Energy by 77.8% in the 4th quarter. NWQ Investment Management Company LLC now owns 1,662,049 shares of the energy producer’s stock valued at $85,662,000 after purchasing an additional 727,517 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of PDC Energy by 7.6% in the 1st quarter. Earnest Partners LLC now owns 1,445,594 shares of the energy producer’s stock valued at $70,877,000 after purchasing an additional 101,931 shares in the last quarter.
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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