PDC Energy (NASDAQ:PDCE) had its price target lifted by SunTrust Banks from $48.00 to $50.00 in a report published on Tuesday, BenzingaRatingsTable reports. SunTrust Banks currently has a buy rating on the energy producer’s stock.

A number of other analysts also recently issued reports on the company. Bank of America set a $54.00 price target on PDC Energy and gave the stock a neutral rating in a research report on Thursday, May 2nd. Wells Fargo & Co lifted their target price on PDC Energy from $47.00 to $50.00 and gave the stock an outperform rating in a research report on Monday, August 12th. Imperial Capital reiterated an outperform rating and set a $50.00 target price on shares of PDC Energy in a research report on Tuesday. BidaskClub downgraded PDC Energy from a sell rating to a strong sell rating in a research report on Tuesday, July 9th. Finally, TD Securities decreased their target price on PDC Energy from $65.00 to $59.00 and set a buy rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. PDC Energy currently has an average rating of Buy and an average price target of $50.38.

Shares of PDCE opened at $32.23 on Tuesday. The company has a market cap of $1.87 billion, a PE ratio of -10.89, a P/E/G ratio of 0.80 and a beta of 1.09. The business has a fifty day moving average of $28.26 and a 200 day moving average of $35.50. PDC Energy has a 52-week low of $24.13 and a 52-week high of $57.40. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.50.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Wednesday, August 7th. The energy producer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). The company had revenue of $390.70 million during the quarter, compared to the consensus estimate of $333.78 million. PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. The firm’s quarterly revenue was up 83.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. As a group, research analysts anticipate that PDC Energy will post 1.55 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in PDCE. First Trust Advisors LP increased its stake in shares of PDC Energy by 72.2% during the second quarter. First Trust Advisors LP now owns 180,909 shares of the energy producer’s stock valued at $6,524,000 after buying an additional 75,864 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of PDC Energy during the first quarter valued at $502,000. Quantamental Technologies LLC purchased a new position in shares of PDC Energy during the first quarter valued at $63,000. Arizona State Retirement System increased its stake in shares of PDC Energy by 0.8% during the second quarter. Arizona State Retirement System now owns 102,819 shares of the energy producer’s stock valued at $3,708,000 after buying an additional 777 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of PDC Energy by 1.5% during the first quarter. New York State Common Retirement Fund now owns 424,467 shares of the energy producer’s stock valued at $17,267,000 after buying an additional 6,357 shares during the period.

PDC Energy Company Profile

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

Featured Article: What are the benefits of a balanced fund?

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.