Analysts’ Weekly Ratings Updates for PDC Energy (PDCE)

PDC Energy (NASDAQ: PDCE) has recently received a number of price target changes and ratings updates:

  • 4/16/2019 – PDC Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 4/10/2019 – PDC Energy was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/9/2019 – PDC Energy is now covered by analysts at Cowen Inc. They set an “outperform” rating and a $53.00 price target on the stock.
  • 4/6/2019 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 4/4/2019 – PDC Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $46.00 price target on the stock. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 3/30/2019 – PDC Energy was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/16/2019 – PDC Energy was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/15/2019 – PDC Energy was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/7/2019 – PDC Energy had its price target raised by analysts at KeyCorp from $40.00 to $42.00. They now have an “overweight” rating on the stock.
  • 3/5/2019 – PDC Energy was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 3/1/2019 – PDC Energy was given a new $55.00 price target on by analysts at MKM Partners. They now have a “buy” rating on the stock.
  • 2/28/2019 – PDC Energy had its price target raised by analysts at Credit Suisse Group AG from $37.00 to $40.00. They now have a “neutral” rating on the stock.

Shares of PDC Energy stock opened at $44.25 on Monday. PDC Energy Inc has a one year low of $26.59 and a one year high of $66.20. The firm has a market capitalization of $2.93 billion, a P/E ratio of -14.95, a P/E/G ratio of 0.40 and a beta of 0.76. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.47.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, February 27th. The energy producer reported ($2.22) EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($2.78). The company had revenue of $386.40 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, analysts forecast that PDC Energy Inc will post 2.88 earnings per share for the current year.

In other PDC Energy news, COO Scott J. Reasoner sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $40.00, for a total transaction of $52,000.00. Following the sale, the chief operating officer now directly owns 91,827 shares of the company’s stock, valued at $3,673,080. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $45.10, for a total value of $67,650.00. Following the sale, the insider now directly owns 248,687 shares in the company, valued at $11,215,783.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,014 shares of company stock worth $336,023. Insiders own 1.00% of the company’s stock.

A number of large investors have recently bought and sold shares of PDCE. Millennium Management LLC grew its position in shares of PDC Energy by 1,092.0% during the fourth quarter. Millennium Management LLC now owns 2,071,379 shares of the energy producer’s stock valued at $61,644,000 after purchasing an additional 1,897,607 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of PDC Energy during the fourth quarter valued at about $25,000. Norges Bank purchased a new position in shares of PDC Energy during the fourth quarter valued at about $17,582,000. Oslo Asset Management AS grew its position in shares of PDC Energy by 66.1% during the fourth quarter. Oslo Asset Management AS now owns 982,981 shares of the energy producer’s stock valued at $29,251,000 after purchasing an additional 391,012 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of PDC Energy by 24.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,755,615 shares of the energy producer’s stock valued at $52,247,000 after purchasing an additional 339,609 shares in the last quarter.

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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