PDC Energy (PDCE) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of PDC Energy (NASDAQ:PDCE) from a sell rating to a hold rating in a report published on Wednesday.

A number of other research firms also recently weighed in on PDCE. Zacks Investment Research downgraded PDC Energy from a buy rating to a hold rating in a research note on Friday, August 3rd. Stephens restated a buy rating and issued a $78.00 price objective on shares of PDC Energy in a research report on Thursday, July 26th. Jefferies Financial Group set a $86.00 price objective on shares of PDC Energy and gave the company a buy rating in a research report on Friday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of PDC Energy from $70.00 to $72.00 and gave the company a $60.95 rating in a research report on Monday, July 23rd. Finally, Macquarie cut 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 report on Tuesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. PDC Energy currently has an average rating of Buy and an average target price of $71.15.

Shares of PDCE stock traded down $1.69 during trading hours on Wednesday, reaching $44.99. The company had a trading volume of 1,494,455 shares, compared to its average volume of 1,518,569. The company has a quick ratio of 0.36, a current ratio of 0.38 and a debt-to-equity ratio of 0.53. The company has a market cap of $3.28 billion, a P/E 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 results 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). The company had revenue of $280.70 million during the quarter, compared to analyst estimates of $337.69 million. PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. During the same period last year, the company earned ($3.85) EPS. Research analysts anticipate that PDC Energy will post 2.09 earnings per share for the current fiscal year.

In other PDC Energy news, insider Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $45.00, for a total transaction of $67,500.00. Following the completion of the transaction, the insider now owns 200,526 shares in the company, valued at approximately $9,023,670. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey C. Swoveland sold 4,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $56.17, for a total value of $224,680.00. Following the transaction, 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. In the last 90 days, insiders sold 11,941 shares of company stock valued at $619,665. 1.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in PDC Energy by 7.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,386 shares of the energy producer’s stock worth $809,000 after purchasing an additional 974 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in PDC Energy by 3.6% during the 2nd quarter. MetLife Investment Advisors LLC now owns 30,317 shares of the energy producer’s stock worth $1,833,000 after purchasing an additional 1,045 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in PDC Energy by 29.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,092 shares of the energy producer’s stock worth $309,000 after purchasing an additional 1,166 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in PDC Energy by 13.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,760 shares of the energy producer’s stock worth $478,000 after purchasing an additional 1,190 shares in the last quarter. Finally, US Bancorp DE increased its holdings in PDC Energy by 30.4% during the 2nd quarter. US Bancorp DE now owns 5,218 shares of the energy producer’s stock worth $315,000 after purchasing an additional 1,215 shares in 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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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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