PDC Energy (NASDAQ:PDCE) Sets New 52-Week Low at $20.96

PDC Energy Inc (NASDAQ:PDCE)’s stock price reached a new 52-week low on Monday . The stock traded as low as $20.96 and last traded at $21.04, with a volume of 235785 shares trading hands. The stock had previously closed at $21.20.

Several analysts recently weighed in on PDCE shares. MKM Partners raised their price objective on PDC Energy from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Bank of America raised PDC Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $42.00 to $50.00 in a research note on Tuesday, September 10th. KeyCorp reduced their price objective on PDC Energy from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. TD Securities increased their target price on PDC Energy from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Wolfe Research upgraded PDC Energy from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.59.

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.12, a P/E/G ratio of 0.65 and a beta of 0.95. The firm has a 50-day simple moving average of $28.17 and a 200 day simple moving average of $32.61.

PDC Energy (NASDAQ:PDCE) last posted its earnings results on Wednesday, August 7th. The energy producer reported $0.34 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.11). The firm had revenue of $390.70 million during the quarter, compared to the consensus estimate of $333.78 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. PDC Energy’s revenue for the quarter was up 83.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. Sell-side analysts anticipate that PDC Energy Inc will post 1.35 earnings per share for the current fiscal year.

In other news, Director Anthony J. Crisafio sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $35.09, for a total transaction of $52,635.00. Following the completion of the transaction, the director now directly owns 22,130 shares in the company, valued at $776,541.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. CSat Investment Advisory L.P. bought a new position in shares of PDC Energy during the second quarter worth about $120,000. Jacobs Levy Equity Management Inc. bought a new position in shares of PDC Energy during the second quarter worth about $230,000. Fox Run Management L.L.C. bought a new position in shares of PDC Energy during the second quarter worth about $264,000. Tower Research Capital LLC TRC raised its position in shares of PDC Energy by 111,462.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,925 shares of the energy producer’s stock worth $322,000 after acquiring an additional 8,917 shares during the last quarter. Finally, CWM LLC raised its position in shares of PDC Energy by 585,750.0% during the second quarter. CWM LLC now owns 11,717 shares of the energy producer’s stock worth $423,000 after acquiring an additional 11,715 shares during the last quarter.

PDC Energy Company Profile (NASDAQ:PDCE)

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.

Further Reading: Rule of 72

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