PDC Energy Inc. (NASDAQ:PDCE) has received an average rating of “Buy” from the thirty-one analysts that are presently covering the company. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $73.74.
PDCE has been the topic of a number of analyst reports. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating on shares of PDC Energy in a research report on Wednesday, June 8th. Deutsche Bank AG reduced their price target on PDC Energy from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Tuesday, June 14th. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of PDC Energy in a research report on Wednesday, July 6th. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Wednesday, July 13th. Finally, BMO Capital Markets lowered PDC Energy from an “outperform” rating to a “market perform” rating and set a $58.00 price target on the stock. in a research report on Monday, August 8th.
Shares of PDC Energy (NASDAQ:PDCE) traded up 0.40% during trading on Monday, reaching $65.28. 493,131 shares of the company’s stock were exchanged. PDC Energy has a 12-month low of $42.68 and a 12-month high of $71.00. The company’s market capitalization is $3.04 billion. The stock has a 50-day moving average price of $64.19 and a 200 day moving average price of $59.32.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $160.18 million. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. The business’s revenue was down 60.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Equities analysts expect that PDC Energy will post ($0.34) EPS for the current fiscal year.
In other PDC Energy news, Director David C. Parke sold 500 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $61.84, for a total transaction of $30,920.00. Following the sale, the director now directly owns 17,717 shares in the company, valued at $1,095,619.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PDCE. Howe & Rusling Inc. increased its stake in PDC Energy by 10.4% in the second quarter. Howe & Rusling Inc. now owns 1,749 shares of the company’s stock worth $101,000 after buying an additional 165 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in PDC Energy during the second quarter worth approximately $302,000. BlueMountain Capital Management LLC purchased a new stake in PDC Energy during the second quarter worth approximately $302,000. Rafferty Asset Management LLC purchased a new stake in PDC Energy during the first quarter worth approximately $305,000. Finally, Amalgamated Bank increased its stake in PDC Energy by 18.0% in the second quarter. Amalgamated Bank now owns 5,077 shares of the company’s stock worth $311,000 after buying an additional 776 shares during the last quarter. Institutional investors own 95.50% of the company’s stock.
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.
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