Brokerages Set PDC Energy Inc (NASDAQ:PDCE) Target Price at $60.56

Shares of PDC Energy Inc (NASDAQ:PDCE) have been assigned a consensus rating of “Hold” from the twenty-five analysts that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $59.06.

Several analysts recently issued reports on the stock. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Bank of America set a $54.00 price target on shares of Fortis and gave the company a “buy” rating in a report on Thursday, May 2nd. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Cowen set a $27.00 price target on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Co downgraded shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, May 20th.

Shares of NASDAQ PDCE traded up $0.10 during trading hours on Friday, hitting $29.44. 920,815 shares of the stock were exchanged, compared to its average volume of 1,382,315. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $32.79. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -9.95, a P/E/G ratio of 0.51 and a beta of 1.15. PDC Energy has a one year low of $26.59 and a one year high of $64.66.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Wednesday, May 1st. The energy producer reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). The firm had revenue of $134.50 million for the quarter, compared to the consensus estimate of $325.83 million. PDC Energy had a negative return on equity of 2.50% and a negative net margin of 7.38%. PDC Energy’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. On average, analysts anticipate that PDC Energy will post 2.38 EPS for the current year.

In other PDC Energy news, Director Mark E. Ellis acquired 10,000 shares of PDC Energy stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $37.30 per share, with a total value of $373,000.00. Following the acquisition, the director now owns 17,752 shares of the company’s stock, valued at $662,149.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in PDCE. Quantamental Technologies LLC bought a new position in shares of PDC Energy during the 1st quarter worth about $63,000. Versant Capital Management Inc increased its position in shares of PDC Energy by 47.0% during the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock worth $66,000 after purchasing an additional 520 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of PDC Energy during the 1st quarter worth about $92,000. Strs Ohio increased its position in shares of PDC Energy by 125.0% during the 1st quarter. Strs Ohio now owns 3,600 shares of the energy producer’s stock worth $146,000 after purchasing an additional 2,000 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of PDC Energy during the 1st quarter worth about $205,000.

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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