Other research analysts have also issued research reports about the company. 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. Credit Suisse Group AG reaffirmed a buy rating on shares of PDC Energy in a research report on Wednesday, August 10th. 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. Barclays PLC boosted their price target on PDC Energy from $78.00 to $80.00 and gave the stock an overweight rating in a research report on Thursday, August 25th. Finally, KeyCorp reaffirmed a buy rating and set a $72.00 price target on shares of PDC Energy in a research report on Tuesday, August 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. PDC Energy has an average rating of Buy and an average price target of $72.54.
PDC Energy (NASDAQ:PDCE) traded up 2.95% during midday trading on Wednesday, reaching $66.33. 107,480 shares of the company traded hands. The firm has a 50 day moving average of $65.67 and a 200-day moving average of $60.05. The stock’s market capitalization is $3.09 billion. PDC Energy has a 12 month low of $42.68 and a 12 month high of $71.00.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The company had revenue of $20.10 million for the quarter, compared to analyst estimates of $160.18 million. PDC Energy had a negative return on equity of 1.07% and a negative net margin of 40.23%. The firm’s revenue for the quarter was down 60.6% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Analysts forecast that PDC Energy will post ($0.36) EPS for the current fiscal year.
In other news, Director David C. Parke sold 500 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $61.84, for a total value of $30,920.00. Following the completion of the sale, the director now owns 17,717 shares of the company’s stock, valued at $1,095,619.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Menta Capital LLC bought a new stake in shares of PDC Energy during the first quarter valued at $814,000. TimesSquare Capital Management LLC boosted its stake in shares of PDC Energy by 20.0% in the first quarter. TimesSquare Capital Management LLC now owns 548,849 shares of the company’s stock valued at $32,629,000 after buying an additional 91,480 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of PDC Energy by 13.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,198,372 shares of the company’s stock valued at $71,243,000 after buying an additional 141,484 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of PDC Energy by 13.4% in the first quarter. BlackRock Fund Advisors now owns 2,861,483 shares of the company’s stock valued at $170,115,000 after buying an additional 338,577 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of PDC Energy by 123.6% in the first quarter. BlackRock Group LTD now owns 141,053 shares of the company’s stock valued at $8,387,000 after buying an additional 77,984 shares during the last quarter. 93.50% of the stock is owned by institutional investors.
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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