PDC Energy Inc (NASDAQ:PDCE) has earned a consensus recommendation of “Hold” from the twenty-six research firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $60.56.

A number of equities research analysts recently commented on the company. Wells Fargo & Co downgraded Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Cowen set a $27.00 target price on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Tuesday, April 9th. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. BMO Capital Markets started coverage on shares of Victoria Gold in a research report on Thursday, July 11th. They set an “outperform” rating on the stock. Finally, Williams Capital set a $30.00 target price on shares of Mdu Resources Group and gave the company a “buy” rating in a research report on Thursday, May 2nd.

Shares of PDCE stock traded down $1.01 on Friday, hitting $29.01. 54,999 shares of the stock were exchanged, compared to its average volume of 1,396,860. PDC Energy has a one year low of $26.59 and a one year high of $64.66. The firm has a 50 day moving average price of $32.84. 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 company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -9.86, a PEG ratio of 0.54 and a beta of 1.15.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, May 1st. The energy producer reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The firm had revenue of $134.50 million for the quarter, compared to the consensus estimate of $325.83 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was down 48.4% compared to the same quarter last year. Sell-side analysts expect that PDC Energy will post 2.28 earnings per share for the current year.

In other news, Director Mark E. Ellis bought 10,000 shares of the stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $37.30 per share, with a total value of $373,000.00. Following the purchase, 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 at this link. Company insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund grew its holdings in PDC Energy by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 43,242 shares of the energy producer’s stock valued at $1,287,000 after buying an additional 1,669 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of PDC Energy by 9.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 90,220 shares of the energy producer’s stock valued at $2,478,000 after buying an additional 8,062 shares during the period. California State Teachers Retirement System increased its stake in shares of PDC Energy by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 103,524 shares of the energy producer’s stock valued at $3,081,000 after buying an additional 2,107 shares during the period. Geode Capital Management LLC grew its stake in PDC Energy by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 736,641 shares of the energy producer’s stock worth $21,921,000 after purchasing an additional 48,261 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in PDC Energy in the fourth quarter worth $652,000.

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. 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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