PDC Energy (PDCE) Stock Rating Upgraded by BidaskClub

PDC Energy (NASDAQ:PDCE) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

PDCE has been the subject of a number of other research reports. Zacks Investment Research lowered PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Oppenheimer started coverage on PDC Energy in a report on Wednesday, October 3rd. They issued a “market perform” rating for the company. Jefferies Financial Group set a $86.00 target price on PDC Energy and gave the stock a “buy” rating in a report on Thursday, July 19th. Macquarie lowered PDC Energy from an “outperform” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Tuesday, August 7th. Finally, Imperial Capital reduced their target price on PDC Energy from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $71.25.

PDCE stock opened at $49.13 on Tuesday. 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 current ratio of 0.38 and a quick ratio of 0.36. The company has a market cap of $3.10 billion, a P/E ratio of -14.12, a P/E/G ratio of 0.55 and a beta of 0.66.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Monday, November 5th. The energy producer reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.11). PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The company had revenue of $280.70 million for the quarter, compared to the consensus estimate of $337.69 million. During the same period last year, the business earned ($3.85) EPS. The firm’s quarterly revenue was up 53.2% on a year-over-year basis. Equities research analysts forecast that PDC Energy will post 2.2 earnings per share for the current fiscal year.

In related news, Director David C. Parke sold 600 shares of PDC Energy stock in a transaction on 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 of the company’s stock, valued at $707,473.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lance Lauck sold 500 shares of PDC Energy stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $52.50, for a total value of $26,250.00. Following the completion of the sale, the executive vice president now directly owns 94,728 shares of the company’s stock, valued at approximately $4,973,220. The disclosure for this sale can be found here. Insiders sold 11,941 shares of company stock valued at $619,665 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in PDC Energy by 7.8% during the second quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock valued at $809,000 after purchasing an additional 974 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in PDC Energy by 3.6% during the second quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock valued at $1,833,000 after purchasing an additional 1,045 shares in the last quarter. Russell Investments Group Ltd. lifted its position in PDC Energy by 29.7% during the second quarter. Russell Investments Group Ltd. now owns 5,092 shares of the energy producer’s stock valued at $309,000 after purchasing an additional 1,166 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in PDC Energy by 13.9% during the third quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock valued at $478,000 after purchasing an additional 1,190 shares in the last quarter. Finally, US Bancorp DE lifted its position in PDC Energy by 30.4% during the second quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 1,215 shares in the last quarter.

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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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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