PDC Energy (PDCE) Given a $77.00 Price Target by Williams Capital Analysts

Williams Capital set a $77.00 price objective on PDC Energy (NASDAQ:PDCE) in a report published on Tuesday. The brokerage currently has a buy rating on the energy producer’s stock.

PDCE has been the subject of several other research reports. Zacks Investment Research lowered shares of PDC Energy from a buy rating to a hold rating in a research note on Friday, August 3rd. Oppenheimer initiated coverage on shares of PDC Energy in a research note on Wednesday, October 3rd. They issued a market perform rating for the company. Jefferies Financial Group set a $86.00 price objective on shares of PDC Energy and gave the company a buy rating in a research note on Thursday, July 19th. Macquarie lowered shares of PDC Energy from an outperform rating to a neutral rating and set a $65.00 price objective for the company. in a research note on Tuesday, August 7th. Finally, BidaskClub lowered shares of PDC Energy from a hold rating to a sell rating in a research note on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. PDC Energy has an average rating of Buy and an average price target of $71.15.

NASDAQ:PDCE traded down $1.69 on Tuesday, hitting $44.99. The stock had a trading volume of 1,494,455 shares, compared to its average volume of 1,518,569. 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 firm has a market cap of $3.28 billion, a price-to-earnings ratio of -12.93, a price-to-earnings-growth ratio of 0.59 and a beta of 0.66. PDC Energy has a 1 year low of $40.62 and a 1 year high of $66.20.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Monday, November 5th. The energy producer reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.11). The firm had revenue of $280.70 million during the quarter, compared to analysts’ expectations of $337.69 million. PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The company’s quarterly revenue was up 53.2% on a year-over-year basis. During the same quarter last year, the business posted ($3.85) EPS. As a group, sell-side analysts forecast that PDC Energy will post 2.09 earnings per share for the current year.

In related news, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’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 of the company’s stock, valued at approximately $10,727,855.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David C. Parke sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $53.03, for a total transaction of $31,818.00. Following the completion of the transaction, the director now directly owns 13,341 shares of the company’s stock, valued at $707,473.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,941 shares of company stock valued at $619,665. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDCE. Russell Investments Group Ltd. bought a new position in PDC Energy in the 1st quarter worth approximately $192,000. LPL Financial LLC boosted its holdings in PDC Energy by 40.9% in the 1st quarter. LPL Financial LLC now owns 7,997 shares of the energy producer’s stock worth $392,000 after buying an additional 2,320 shares during the period. Millennium Management LLC boosted its holdings in PDC Energy by 205.7% in the 1st quarter. Millennium Management LLC now owns 181,768 shares of the energy producer’s stock worth $8,912,000 after buying an additional 122,300 shares during the period. Royal Bank of Canada boosted 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 buying an additional 4,228 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in PDC Energy by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 514,593 shares of the energy producer’s stock worth $25,230,000 after buying an additional 14,664 shares during the period.

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.

See Also: What is Considered a Good Return on Equity (ROE)?

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply