PDC Energy, Inc. (NASDAQ:PDCE) – Investment analysts at Imperial Capital increased their FY2018 earnings per share (EPS) estimates for PDC Energy in a note issued to investors on Wednesday. Imperial Capital analyst I. Haas now expects that the energy producer will post earnings per share of $0.78 for the year, up from their prior estimate of $0.58. Imperial Capital currently has a “Outperform” rating and a $66.00 target price on the stock.
Several other brokerages have also weighed in on PDCE. Stifel Nicolaus set a $69.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. BMO Capital Markets restated a “hold” rating and set a $48.00 target price on shares of PDC Energy in a research report on Friday, September 1st. Barclays PLC upped their target price on shares of PDC Energy from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Bank of America Corporation initiated coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They set a “buy” rating and a $60.00 target price on the stock. Finally, SunTrust Banks, Inc. set a $55.00 target price on shares of PDC Energy and gave the stock a “buy” rating in a research report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $68.86.
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PDC Energy (NASDAQ PDCE) opened at $50.00 on Friday. PDC Energy has a one year low of $36.74 and a one year high of $84.88. The company has a current ratio of 0.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3,293.65, a PE ratio of 128.21 and a beta of 0.82.
In related news, COO Scott J. Reasoner sold 1,000 shares of the company’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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.
A number of large investors have recently bought and sold shares of PDCE. UBS Group AG raised its stake in PDC Energy by 101.1% during the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock worth $912,000 after purchasing an additional 1,395,552 shares during the period. Vanguard Group Inc. raised its stake in PDC Energy by 13.5% during the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock worth $244,797,000 after purchasing an additional 677,329 shares during the period. State Street Corp raised its stake in PDC Energy by 24.8% during the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock worth $105,957,000 after purchasing an additional 487,816 shares during the period. BlackRock Inc. raised its stake in PDC Energy by 5.5% during the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock worth $313,529,000 after purchasing an additional 381,958 shares during the period. Finally, Caymus Capital Partners L.P. raised its stake in PDC Energy by 33.3% during the third quarter. Caymus Capital Partners L.P. now owns 1,525,300 shares of the energy producer’s stock worth $74,785,000 after purchasing an additional 380,900 shares during the period.
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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