PDC Energy (PDCE) Rating Increased to Sell at ValuEngine
ValuEngine upgraded shares of PDC Energy (NASDAQ:PDCE) from a strong sell rating to a sell rating in a research report report published on Friday.
A number of other analysts have also recently weighed in on PDCE. BidaskClub cut shares of PDC Energy from a hold rating to a sell rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of PDC Energy from a hold rating to a buy rating and set a $49.00 target price for the company in a research report on Saturday, November 3rd. Williams Capital set a $77.00 target price on shares of PDC Energy and gave the company a buy rating in a research report on Tuesday, November 6th. Mitsubishi UFJ Financial Group reduced their price objective on shares of PDC Energy to $76.00 and set an overweight rating for the company in a research report on Wednesday, November 7th. Finally, TD Securities reduced their price objective on shares of PDC Energy from $78.00 to $77.00 and set a buy rating for the company in a research note on Thursday, November 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $62.45.
Shares of NASDAQ:PDCE traded up $1.71 on Friday, reaching $38.24. 1,539,929 shares of the company’s stock were exchanged, compared to its average volume of 1,283,670. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -10.99, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. PDC Energy has a fifty-two week low of $26.59 and a fifty-two week high of $66.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.38.
Several institutional investors have recently added to or reduced their stakes in PDCE. Millennium Management LLC grew its position in shares of PDC Energy by 1,092.0% during the 4th quarter. Millennium Management LLC now owns 2,071,379 shares of the energy producer’s stock worth $61,644,000 after buying an additional 1,897,607 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of PDC Energy in the 4th quarter valued at approximately $25,000. Frontier Capital Management Co. LLC grew its position in shares of PDC Energy by 72.8% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,416,006 shares of the energy producer’s stock valued at $69,328,000 after purchasing an additional 596,642 shares during the period. Ferox Capital Management LP acquired a new position in shares of PDC Energy in the 3rd quarter valued at approximately $485,000. Finally, FMR LLC grew its position in shares of PDC Energy by 12.4% in the 3rd quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock valued at $186,317,000 after purchasing an additional 419,986 shares during the period.
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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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