PDC Energy, Inc. (NASDAQ:PDCE) was up 5.4% on Monday . The company traded as high as $49.05 and last traded at $49.03. Approximately 1,053,403 shares changed hands during trading, a decline of 11% from the average daily volume of 1,188,350 shares. The stock had previously closed at $46.52.

A number of equities research analysts have recently weighed in on PDCE shares. BidaskClub raised PDC Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Credit Suisse Group cut PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 price target on the stock. in a report on Thursday, June 1st. Seaport Global Securities raised PDC Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $51.00 in a report on Friday, August 11th. Scotiabank reaffirmed a “hold” rating and set a $60.00 price target on shares of PDC Energy in a report on Friday, June 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $48.00 price target on shares of PDC Energy in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $70.18.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ 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 business 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. PDC Energy’s revenue was up 1269.2% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in PDC Energy by 8.7% in the second quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after buying an additional 10,360 shares during the period. Thrivent Financial For Lutherans lifted its holdings in PDC Energy by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 31,760 shares of the energy producer’s stock valued at $1,980,000 after buying an additional 1,750 shares during the period. Pacer Advisors Inc. lifted its holdings in PDC Energy by 37.5% in the first quarter. Pacer Advisors Inc. now owns 6,430 shares of the energy producer’s stock valued at $401,000 after buying an additional 1,755 shares during the period. Prudential Financial Inc. lifted its holdings in PDC Energy by 0.5% in the first quarter. Prudential Financial Inc. now owns 96,434 shares of the energy producer’s stock valued at $6,013,000 after buying an additional 518 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in PDC Energy by 12.7% in the first quarter. Systematic Financial Management LP now owns 530,883 shares of the energy producer’s stock valued at $33,101,000 after buying an additional 59,999 shares during the period.

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PDC Energy Company Profile

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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