PDC Energy, Inc. (NASDAQ:PDCE) was upgraded by investment analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a report released on Friday, The Fly reports. Seaport Global Securities also issued estimates for PDC Energy’s Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at $0.09 EPS, Q1 2018 earnings at ($0.20) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.13) EPS and FY2018 earnings at ($0.66) EPS.

PDCE has been the topic of several other reports. Credit Suisse Group lowered shares of PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 target price on the stock. in a research report on Thursday, June 1st. BidaskClub lowered shares of PDC Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Stifel Nicolaus restated a “buy” rating and set a $82.00 target price on shares of PDC Energy in a research report on Friday, May 26th. Royal Bank Of Canada lowered their target price on shares of PDC Energy from $82.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. Finally, Bank of America Corporation started coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $71.86.

Shares of PDC Energy (PDCE) opened at 40.37 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of 286.31 and a beta of 0.81. PDC Energy has a 12-month low of $38.54 and a 12-month high of $84.88. The company has a 50-day moving average price of $44.00 and a 200 day moving average price of $56.69.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.20. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The company had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 1269.2% compared to the same quarter last year. On average, equities analysts expect that PDC Energy will post $0.06 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in PDCE. Guggenheim Capital LLC raised its stake in shares of PDC Energy by 19.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,924 shares of the energy producer’s stock worth $792,000 after buying an additional 1,748 shares during the period. Teachers Advisors LLC raised its stake in shares of PDC Energy by 22.5% in the fourth quarter. Teachers Advisors LLC now owns 101,701 shares of the energy producer’s stock worth $7,381,000 after buying an additional 18,675 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of PDC Energy during the fourth quarter worth about $267,000. Bank of Montreal Can raised its stake in shares of PDC Energy by 8.8% in the first quarter. Bank of Montreal Can now owns 82,450 shares of the energy producer’s stock worth $5,140,000 after buying an additional 6,671 shares during the period. Finally, First National Bank of Omaha raised its stake in shares of PDC Energy by 30.3% in the first quarter. First National Bank of Omaha now owns 14,588 shares of the energy producer’s stock worth $910,000 after buying an additional 3,390 shares during the period.

About PDC Energy

PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.

The Fly

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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