Shares of PDC Energy Inc (NASDAQ:PDCE) have been assigned an average recommendation of “Buy” from the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $47.73.
Several equities research analysts recently issued reports on PDCE shares. Cfra raised shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Co reduced their target price on shares of PDC Energy from $51.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday. BidaskClub raised shares of PDC Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Tudor Pickering raised shares of PDC Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research lowered shares of PDC Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 12th.
A number of institutional investors and hedge funds have recently made changes to their positions in PDCE. CSat Investment Advisory L.P. purchased a new stake in PDC Energy during the 2nd quarter valued at approximately $120,000. Jacobs Levy Equity Management Inc. purchased a new stake in PDC Energy during the 2nd quarter valued at approximately $230,000. Tower Research Capital LLC TRC grew its holdings in PDC Energy by 111,462.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,925 shares of the energy producer’s stock valued at $322,000 after buying an additional 8,917 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in PDC Energy during the 3rd quarter valued at approximately $394,000. Finally, Point72 Asset Management L.P. purchased a new stake in PDC Energy during the 2nd quarter valued at approximately $434,000.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, November 6th. The energy producer reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.69). PDC Energy had a net margin of 8.49% and a negative return on equity of 5.40%. The business had revenue of $365.94 million for the quarter, compared to analysts’ expectations of $325.37 million. During the same period in the previous year, the company earned $0.48 EPS. PDC Energy’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities research analysts anticipate that PDC Energy will post 0.62 earnings per share for the current year.
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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