PDC Energy, Inc. (PDCE) PT Set at $55.00 by BMO Capital Markets

PDC Energy, Inc. (NASDAQ:PDCE) received a $55.00 price target from stock analysts at BMO Capital Markets in a report released on Tuesday. The brokerage presently has a “hold” rating on the energy producer’s stock. BMO Capital Markets’ target price indicates a potential upside of 23.26% from the company’s previous close.

A number of other research firms also recently issued reports on PDCE. Stifel Nicolaus set a $69.00 price objective on PDC Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Barclays PLC lifted their price objective on PDC Energy from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Bank of America Corporation started coverage on PDC Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $60.00 price objective on the stock. SunTrust Banks, Inc. set a $55.00 price objective on PDC Energy and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $55.00 price objective on shares of PDC Energy in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. PDC Energy currently has a consensus rating of “Hold” and a consensus target price of $68.95.

PDC Energy (NASDAQ:PDCE) opened at $44.62 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy has a twelve month low of $36.74 and a twelve month high of $84.88. The company has a market capitalization of $3,175.73, a P/E ratio of 123.61 and a beta of 0.82.

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In related news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.91% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after purchasing an additional 209 shares during the period. Seven Eight Capital LP acquired a new position in shares of PDC Energy in the second quarter valued at about $107,000. Flinton Capital Management LLC increased its holdings in shares of PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after purchasing an additional 1,168 shares during the period. Dubuque Bank & Trust Co. increased its holdings in shares of PDC Energy by 38.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,262 shares of the energy producer’s stock valued at $141,000 after purchasing an additional 899 shares during the period. Finally, Riverhead Capital Management LLC increased its holdings in shares of PDC Energy by 67.7% in the second quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock valued at $195,000 after purchasing an additional 1,828 shares during the period.

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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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