Research analysts at Stephens started coverage on shares of PDC Energy (NASDAQ:PDCE) in a research report issued on Thursday, Marketbeat reports. The firm set an “overweight” rating and a $72.00 price target on the energy producer’s stock. Stephens’ price target would suggest a potential upside of 110.59% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets set a $62.00 price target on shares of PDC Energy and gave the company a “hold” rating in a report on Sunday, August 12th. Williams Capital set a $82.00 price target on shares of PDC Energy and gave the company a “buy” rating in a report on Thursday, August 9th. BidaskClub downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. TD Securities set a $79.00 price target on shares of PDC Energy and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Stifel Nicolaus cut their price target on shares of PDC Energy from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. PDC Energy presently has an average rating of “Buy” and a consensus target price of $69.05.

Shares of NASDAQ:PDCE opened at $34.19 on Thursday. The stock has a market cap of $2.24 billion, a P/E ratio of 25.54, a PEG ratio of 0.48 and a beta of 0.68. PDC Energy has a 12 month low of $32.93 and a 12 month 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.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Monday, November 5th. The energy producer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.11). The firm had revenue of $280.70 million for the quarter, compared to the consensus estimate of $337.69 million. PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($3.85) earnings per share. On average, equities analysts forecast that PDC Energy will post 1.84 EPS for the current year.

In other PDC Energy news, Director David C. Parke sold 700 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $40.07, for a total value of $28,049.00. Following the transaction, the director now directly owns 12,641 shares in the company, valued at approximately $506,524.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lance Lauck sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $52.50, for a total transaction of $26,250.00. Following the completion of the sale, the executive vice president now directly owns 94,728 shares of the company’s stock, valued at approximately $4,973,220. The disclosure for this sale can be found here. Insiders sold a total of 6,541 shares of company stock worth $312,151 over the last 90 days. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PDCE. Royal Bank of Canada lifted its position in shares of PDC Energy by 994.8% in the 1st quarter. Royal Bank of Canada now owns 4,653 shares of the energy producer’s stock worth $228,000 after purchasing an additional 4,228 shares during the period. GWM Advisors LLC purchased a new stake in shares of PDC Energy in the 3rd quarter worth approximately $239,000. Jane Street Group LLC purchased a new stake in shares of PDC Energy in the 3rd quarter worth approximately $283,000. Cornerstone Wealth Management LLC purchased a new stake in shares of PDC Energy in the 2nd quarter worth approximately $300,000. Finally, First Mercantile Trust Co. lifted its position in shares of PDC Energy by 114.9% in the 3rd quarter. First Mercantile Trust Co. now owns 6,231 shares of the energy producer’s stock worth $305,000 after purchasing an additional 3,331 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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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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