Credit Suisse Group initiated coverage on shares of PDC Energy (NASDAQ:PDCE) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $51.00 target price on the energy producer’s stock.

PDCE has been the subject of several other reports. Mitsubishi UFJ Financial Group reiterated a neutral rating on shares of PDC Energy in a report on Monday, August 21st. Wolfe Research assumed coverage on shares of PDC Energy in a report on Tuesday, November 14th. They set a market perform rating for the company. KeyCorp reiterated a buy rating and set a $55.00 target price on shares of PDC Energy in a report on Tuesday, September 26th. Stifel Nicolaus lifted their target price on shares of PDC Energy from $69.00 to $82.00 and gave the company a buy rating in a report on Friday, October 13th. Finally, Imperial Capital assumed coverage on shares of PDC Energy in a report on Friday, August 18th. They set an outperform rating and a $66.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $68.18.

PDC Energy (PDCE) opened at $44.37 on Monday. PDC Energy has a 1-year low of $36.74 and a 1-year high of $80.82. The stock has a market cap of $2,990.63, a P/E ratio of 116.41 and a beta of 0.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.

In related news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System grew its position in PDC Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock worth $1,259,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after purchasing an additional 209 shares during the period. Municipal Employees Retirement System of Michigan grew its position in PDC Energy by 3.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,200 shares of the energy producer’s stock worth $569,000 after purchasing an additional 480 shares during the period. Comerica Bank grew its position in PDC Energy by 1.4% in the 2nd quarter. Comerica Bank now owns 66,958 shares of the energy producer’s stock worth $3,004,000 after purchasing an additional 895 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in PDC Energy by 24.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock worth $250,000 after purchasing an additional 1,123 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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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