PDC Energy (NASDAQ:PDCE) had its price target cut by Mitsubishi UFJ Financial Group to $76.00 in a research note published on Wednesday morning, The Fly reports. They currently have an overweight rating on the energy producer’s stock. Mitsubishi UFJ Financial Group also issued estimates for PDC Energy’s Q4 2018 earnings at $0.94 EPS, Q1 2019 earnings at $1.00 EPS, Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.17 EPS, FY2019 earnings at $4.34 EPS, Q1 2020 earnings at $1.33 EPS, Q2 2020 earnings at $1.28 EPS, Q3 2020 earnings at $1.24 EPS and FY2020 earnings at $5.09 EPS.
A number of other research firms also recently weighed in on PDCE. KLR Group restated a buy rating and set a $84.00 target price on shares of PDC Energy in a research report on Monday, August 20th. Jefferies Financial Group set a $86.00 target price on PDC Energy and gave the stock a buy rating in a research report on Thursday, July 19th. ValuEngine downgraded PDC Energy from a buy rating to a hold rating in a research report on Wednesday, August 8th. Oppenheimer started coverage on PDC Energy in a research report on Wednesday, October 3rd. They set a market perform rating for the company. Finally, Zacks Investment Research upgraded PDC Energy from a hold rating to a buy rating and set a $71.00 target price for the company in a research report on Wednesday, August 1st. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $71.15.
PDC Energy stock traded down $1.69 on Wednesday, reaching $44.99. The company’s stock had a trading volume of 1,494,455 shares, compared to its average volume of 1,518,569. The firm has a market cap of $3.28 billion, a P/E ratio of -12.93, a P/E/G ratio of 0.59 and a beta of 0.66. PDC Energy has a twelve month low of $40.62 and a twelve month high of $66.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.36 and a current ratio of 0.38.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Monday, November 5th. The energy producer reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). The firm had revenue of $280.70 million for the quarter, compared to the consensus estimate of $337.69 million. PDC Energy had a positive return on equity of 3.64% and a negative net margin of 10.52%. The company’s revenue was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($3.85) EPS. On average, equities research analysts predict that PDC Energy will post 2.09 earnings per share for the current year.
In related news, Director David C. Parke sold 600 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total value of $31,818.00. Following the completion of the sale, the director now owns 13,341 shares in the company, valued at $707,473.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey C. Swoveland sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.17, for a total value of $224,680.00. Following the completion of the sale, the director now owns 17,454 shares of the company’s stock, valued at approximately $980,391.18. The disclosure for this sale can be found here. Insiders sold 11,941 shares of company stock valued at $619,665 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of PDC Energy in the first quarter worth about $192,000. Royal Bank of Canada increased its holdings in shares of PDC Energy by 994.8% in the first quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock worth $228,000 after acquiring an additional 4,228 shares in the last quarter. GWM Advisors LLC bought a new stake in shares of PDC Energy in the third quarter worth about $239,000. Fox Run Management L.L.C. bought a new stake in shares of PDC Energy in the second quarter worth about $276,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of PDC Energy in the second quarter worth about $300,000.
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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