PDC Energy (NASDAQ:PDCE) had its price objective reduced by Mitsubishi UFJ Financial Group to $76.00 in a research report released 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 and Q1 2020 earnings at $1.33 EPS.
Several other analysts have also recently weighed in on the company. BidaskClub cut PDC Energy from a hold rating to a sell rating in a research report on Tuesday, September 11th. Oppenheimer began coverage on shares of PDC Energy in a report on Wednesday, October 3rd. They set a market perform rating for the company. ValuEngine lowered shares of PDC Energy from a hold rating to a sell rating in a report on Wednesday, September 26th. Williams Capital set a $77.00 target price on shares of PDC Energy and gave the company a buy rating in a report on Monday, August 20th. Finally, Stifel Nicolaus lowered their target price on shares of PDC Energy from $87.00 to $86.00 and set a buy rating for the company in a report on Thursday, August 9th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $71.15.
PDC Energy stock traded down $2.97 during trading hours on Wednesday, hitting $46.68. 1,786,442 shares of the stock traded hands, compared to its average volume of 1,026,125. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.36 and a current ratio of 0.38. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -13.41, a PEG ratio of 0.55 and a beta of 0.66. PDC Energy has a one year low of $40.62 and a one year high of $66.20.
In related news, insider Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $52.71, for a total value of $79,065.00. Following the completion of the transaction, the insider now directly owns 203,526 shares in the company, valued at approximately $10,727,855.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Scott J. Reasoner sold 1,341 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $50.43, for a total transaction of $67,626.63. Following the completion of the transaction, the chief operating officer now owns 73,379 shares of the company’s stock, valued at $3,700,502.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,941 shares of company stock valued at $619,665. 1.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in PDC Energy in the 1st quarter worth approximately $192,000. Fox Run Management L.L.C. purchased a new position in PDC Energy in the 2nd quarter worth approximately $276,000. Royal Bank of Canada raised its holdings in PDC Energy by 994.8% in the 1st 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 during the last quarter. GWM Advisors LLC purchased a new position in PDC Energy in the 3rd quarter worth approximately $239,000. Finally, US Bancorp DE raised its holdings in PDC Energy by 30.4% in the 2nd quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock worth $315,000 after acquiring an additional 1,215 shares during the last quarter.
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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