PDC Energy Inc (PDCE) Given Average Rating of “Buy” by Analysts

PDC Energy Inc (NASDAQ:PDCE) has been given a consensus rating of “Buy” by the twenty-seven research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.44.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised PDC Energy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, April 16th. Cowen assumed coverage on PDC Energy in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $53.00 price target for the company. BidaskClub cut PDC Energy from a “buy” rating to a “hold” rating in a research note on Friday. Imperial Capital reissued an “outperform” rating and issued a $61.00 price target (up previously from $57.00) on shares of PDC Energy in a research note on Tuesday, February 12th. Finally, Credit Suisse Group increased their price target on PDC Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th.

In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $34.21, for a total transaction of $51,315.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott J. Reasoner sold 1,714 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $44.01, for a total value of $75,433.14. Following the sale, the chief operating officer now owns 90,113 shares of the company’s stock, valued at $3,965,873.13. The disclosure for this sale can be found here. Insiders have sold 8,014 shares of company stock valued at $336,023 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PDCE. Oregon Public Employees Retirement Fund purchased a new stake in shares of PDC Energy during the fourth quarter valued at approximately $25,000. Dubuque Bank & Trust Co. bought a new position in PDC Energy during the fourth quarter valued at about $26,000. Versant Capital Management Inc boosted its stake in PDC Energy by 47.0% during the first quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after buying an additional 520 shares in the last quarter. MHI Funds LLC bought a new position in PDC Energy during the fourth quarter valued at about $143,000. Finally, Strs Ohio boosted its stake in PDC Energy by 125.0% during the first quarter. Strs Ohio now owns 3,600 shares of the energy producer’s stock valued at $146,000 after buying an additional 2,000 shares in the last quarter.

Shares of NASDAQ PDCE traded down $0.62 during trading on Monday, hitting $43.97. 1,856 shares of the company were exchanged, compared to its average volume of 872,759. The firm has a market capitalization of $2.95 billion, a P/E ratio of -14.91, a PEG ratio of 0.37 and a beta of 0.76. PDC Energy has a 1 year low of $26.59 and a 1 year high of $66.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.62 and a current ratio of 0.62.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Wednesday, February 27th. The energy producer reported ($2.22) EPS for the quarter, missing the consensus estimate of $0.56 by ($2.78). The company had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $360.91 million. PDC Energy had a negative return on equity of 3.09% and a net margin of 0.13%. PDC Energy’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, sell-side analysts forecast that PDC Energy will post 3.1 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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