PDC Energy (NASDAQ:PDCE) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, February 9th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price target on shares of PDC Energy in a research note on Sunday, January 28th. KeyCorp set a $65.00 price target on PDC Energy and gave the stock a “buy” rating in a research note on Sunday, January 21st. Mizuho reissued a “buy” rating and issued a $66.00 price target on shares of PDC Energy in a research note on Wednesday, January 17th. Finally, Williams Capital reissued a “buy” rating and issued a $76.00 price target (up previously from $69.00) on shares of PDC Energy in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. PDC Energy presently has an average rating of “Buy” and an average target price of $67.06.
Shares of PDCE opened at $56.91 on Wednesday. The stock has a market capitalization of $3,734.96, a P/E ratio of 125.82, a P/E/G ratio of 0.62 and a beta of 0.66. PDC Energy has a 1-year low of $36.74 and a 1-year high of $59.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.96.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The firm had revenue of $189.52 million for the quarter, compared to analysts’ expectations of $263.28 million. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%. equities analysts forecast that PDC Energy will post 2.39 EPS for the current year.
In related news, Director Jeffrey C. Swoveland sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $55.07, for a total value of $192,745.00. Following the completion of the sale, the director now owns 21,454 shares of the company’s stock, valued at approximately $1,181,471.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $51.86, for a total value of $77,790.00. Following the completion of the sale, the chief executive officer now directly owns 173,473 shares of the company’s stock, valued at approximately $8,996,309.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,114 shares of company stock worth $1,715,767. Company insiders own 0.91% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PDCE. Schf GPE LLC bought a new stake in shares of PDC Energy in the 4th quarter valued at approximately $55,125,000. Mangrove Partners bought a new stake in shares of PDC Energy in the 4th quarter valued at approximately $46,347,000. NWQ Investment Management Company LLC grew its stake 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 buying an additional 727,517 shares in the last quarter. Earnest Partners LLC grew its stake in shares of PDC Energy by 45.0% in the 4th quarter. Earnest Partners LLC now owns 1,343,663 shares of the energy producer’s stock valued at $69,252,000 after buying an additional 416,711 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of PDC Energy by 4.5% in the 4th quarter. BlackRock Inc. now owns 8,643,984 shares of the energy producer’s stock valued at $445,509,000 after buying an additional 374,797 shares in the last quarter.
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About PDC Energy
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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