Johnson Rice upgraded shares of PDC Energy (NASDAQ:PDCE) from an accumulate rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. The analysts noted that the move was a valuation call.
PDCE has been the topic of a number of other research reports. BidaskClub downgraded shares of PDC Energy from a strong-buy rating to a buy rating in a report on Thursday, January 18th. Bank of America raised their price target on shares of PDC Energy from $68.00 to $71.00 and gave the company a buy rating in a report on Monday, April 16th. Stifel Nicolaus set a $83.00 price target on shares of PDC Energy and gave the company a buy rating in a report on Tuesday, February 27th. Deutsche Bank assumed coverage on shares of PDC Energy in a report on Wednesday, April 4th. They set a buy rating and a $62.00 price target on the stock. Finally, KeyCorp set a $65.00 price target on shares of PDC Energy and gave the company a buy rating in a report on Sunday, January 21st. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $67.06.
PDCE stock opened at $63.58 on Monday. PDC Energy has a 12-month low of $59.69 and a 12-month high of $60.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -18.27, a P/E/G ratio of 0.65 and a beta of 0.67.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $189.52 million during the quarter, compared to the consensus estimate of $263.28 million. PDC Energy had a negative net margin of 19.50% and a positive return on equity of 1.47%. research analysts expect that PDC Energy will post 2.39 earnings per share for the current fiscal year.
In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $52.97, for a total value of $79,455.00. Following the sale, the insider now directly owns 209,526 shares in the company, valued at approximately $11,098,592.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lance Lauck sold 500 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $60.00, for a total transaction of $30,000.00. Following the completion of the sale, the executive vice president now owns 98,228 shares in the company, valued at $5,893,680. The disclosure for this sale can be found here. Insiders sold a total of 32,614 shares of company stock worth $1,747,432 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Centaurus Financial Inc. acquired a new stake in PDC Energy in the 1st quarter worth $107,000. MHI Funds LLC acquired a new stake in PDC Energy in the 4th quarter worth $138,000. First Mercantile Trust Co. grew its position in PDC Energy by 93.3% in the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after purchasing an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PDC Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock worth $185,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in PDC Energy in the 1st quarter worth $192,000.
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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