PDC Energy, Inc. (PDCE) Given a $69.00 Price Target by Stifel Nicolaus Analysts
PDC Energy, Inc. (NASDAQ:PDCE) has been given a $69.00 price objective by equities research analysts at Stifel Nicolaus in a research note issued on Thursday. The firm currently has a “buy” rating on the energy producer’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 40.85% from the company’s current price.
Other analysts have also issued research reports about the stock. Williams Capital set a $67.00 price objective on shares of PDC Energy and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of PDC Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 8th. Seaport Global Securities raised shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $51.00 in a research report on Friday, August 11th. Mizuho raised shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $55.00 in a research report on Wednesday, August 9th. Finally, Imperial Capital began coverage on shares of PDC Energy in a research report on Friday, August 18th. They issued an “outperform” rating and a $66.00 price objective on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.14.
Shares of PDC Energy (NASDAQ PDCE) traded down 2.71% on Thursday, hitting $47.66. 286,251 shares of the stock traded hands. The firm’s 50 day moving average is $42.97 and its 200 day moving average is $48.91. The firm has a market capitalization of $3.11 billion, a PE ratio of 338.01 and a beta of 0.84. PDC Energy has a 52 week low of $36.74 and a 52 week high of $84.88.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.20. The business had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The firm’s revenue for the quarter was up 1269.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, analysts expect that PDC Energy will post $0.22 EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in PDCE. American Century Companies Inc. acquired a new position in shares of PDC Energy in the first quarter valued at $302,000. US Bancorp DE increased its holdings in shares of PDC Energy by 3.4% in the first quarter. US Bancorp DE now owns 3,903 shares of the energy producer’s stock valued at $243,000 after purchasing an additional 127 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of PDC Energy in the first quarter valued at $974,000. Mason Street Advisors LLC increased its holdings in shares of PDC Energy by 7.3% in the first quarter. Mason Street Advisors LLC now owns 13,071 shares of the energy producer’s stock valued at $815,000 after purchasing an additional 892 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of PDC Energy by 22.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,635 shares of the energy producer’s stock valued at $351,000 after purchasing an additional 1,027 shares during the last quarter.
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.
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