PDC Energy Inc (PDCE) Receives Average Rating of “Buy” from Analysts

Shares of PDC Energy Inc (NASDAQ:PDCE) have earned a consensus recommendation of “Buy” from the twenty-three research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $67.13.

Several equities analysts have recently commented on the stock. Stifel Nicolaus set a $95.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a report on Wednesday. Johnson Rice assumed coverage on shares of PDC Energy in a report on Wednesday, March 21st. They issued a “buy” rating and a $66.00 price objective on the stock. Jefferies Group set a $71.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a report on Monday, March 19th. BidaskClub lowered shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, Bank of America increased their target price on shares of PDC Energy from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, March 8th.

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In related news, COO Scott J. Reasoner sold 1,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $55,830.00. Following the transaction, the chief operating officer now directly owns 62,338 shares of the company’s stock, valued at approximately $3,480,330.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lance Lauck sold 10,000 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $53.95, for a total transaction of $539,500.00. Following the completion of the transaction, the executive vice president now directly owns 100,228 shares in the company, valued at $5,407,300.60. The disclosure for this sale can be found here. Insiders sold a total of 33,814 shares of company stock worth $1,821,178 over the last ninety days. Insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PDCE. MHI Funds LLC purchased a new position in PDC Energy during the 4th quarter worth $138,000. First Mercantile Trust Co. grew its position in PDC Energy by 93.3% during 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% during 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. ETRADE Capital Management LLC purchased a new position in PDC Energy during the 4th quarter worth $212,000. Finally, Jane Street Group LLC purchased a new position in PDC Energy during the 4th quarter worth $212,000.

Shares of PDC Energy stock traded up $0.02 during mid-day trading on Friday, hitting $49.03. The stock had a trading volume of 1,191,476 shares, compared to its average volume of 912,304. PDC Energy has a 12-month low of $36.74 and a 12-month high of $65.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $3,234.26, a price-to-earnings ratio of -14.09, a price-to-earnings-growth ratio of 0.53 and a beta of 0.64.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. PDC Energy had a negative net margin of 13.13% and a positive return on equity of 1.17%. The business had revenue of $189.52 million during the quarter, compared to analysts’ expectations of $263.28 million. equities analysts expect that PDC Energy will post 2.4 earnings per share for the current fiscal year.

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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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