PDC Energy’s (PDCE) “Buy” Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of PDC Energy, Inc. (NASDAQ:PDCE) in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have a $81.00 target price on the energy producer’s stock, down from their previous target price of $82.00.
Other equities analysts also recently issued research reports about the company. Bank of America Corporation started coverage on PDC Energy in a research report on Wednesday, July 19th. They issued a buy rating and a $60.00 price objective on the stock. Jefferies Group LLC started coverage on PDC Energy in a research report on Monday, October 9th. They issued a buy rating and a $60.00 price objective on the stock. KeyCorp reaffirmed a buy rating and issued a $55.00 price objective on shares of PDC Energy in a research report on Tuesday, September 26th. Seaport Global Securities raised PDC Energy from a neutral rating to a buy rating and upped their price objective for the company from $46.00 to $51.00 in a research report on Friday, August 11th. Finally, Mizuho raised PDC Energy from a neutral rating to a buy rating and upped their price objective for the company from $53.00 to $55.00 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. PDC Energy presently has a consensus rating of Buy and a consensus target price of $68.86.
Shares of PDC Energy (NASDAQ PDCE) traded down $0.14 during trading on Tuesday, reaching $50.00. The company’s stock had a trading volume of 877,200 shares, compared to its average volume of 1,088,229. The company has a market cap of $3,302.86, a P/E ratio of 128.56 and a beta of 0.82. The company has a quick ratio of 1.20, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. PDC Energy has a 12 month low of $36.74 and a 12 month 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, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.20. The company had revenue of $275.20 million for the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a positive return on equity of 0.94% and a negative net margin of 29.31%. PDC Energy’s quarterly revenue was up 1269.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) EPS. equities analysts anticipate that PDC Energy will post 0.19 EPS for the current year.
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In related news, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.91% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PDC Energy by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after buying an additional 209 shares during the last quarter. Seven Eight Capital LP purchased a new stake in PDC Energy in the second quarter valued at about $107,000. Integrated Investment Consultants LLC raised its stake in PDC Energy by 27.7% in the second quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock valued at $109,000 after buying an additional 547 shares during the last quarter. Flinton Capital Management LLC raised its stake in PDC Energy by 67.0% in the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after buying an additional 1,168 shares during the last quarter. Finally, Dubuque Bank & Trust Co. raised its stake in PDC Energy by 38.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,262 shares of the energy producer’s stock valued at $141,000 after buying an additional 899 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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