PDC Energy (NASDAQ:PDCE) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of PDC Energy (NASDAQ:PDCE) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Several other analysts have also weighed in on PDCE. Zacks Investment Research lowered shares of PDC Energy from a hold rating to a sell rating in a research note on Tuesday, July 30th. Williams Capital restated a buy rating and set a $61.00 price target on shares of PDC Energy in a research report on Thursday, May 2nd. BidaskClub lowered shares of PDC Energy from a sell rating to a strong sell rating in a research report on Tuesday, July 9th. Imperial Capital restated an outperform rating and set a $68.00 price target (up previously from $66.00) on shares of PDC Energy in a research report on Friday, May 3rd. Finally, BMO Capital Markets lowered shares of PDC Energy from an outperform rating to a market perform rating and lowered their price target for the stock from $50.00 to $38.00 in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $58.17.

PDCE stock traded down $0.64 during trading on Thursday, hitting $26.19. 80,799 shares of the company’s stock traded hands, compared to its average volume of 1,316,513. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.53. PDC Energy has a 52 week low of $26.45 and a 52 week high of $64.66. The firm’s fifty day moving average price is $31.80. The stock has a market cap of $1.78 billion, a PE ratio of -8.84, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10.

In related news, Director Mark E. Ellis bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $37.30 per share, for a total transaction of $373,000.00. Following the transaction, the director now directly owns 17,752 shares of the company’s stock, valued at approximately $662,149.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its position in PDC Energy by 0.3% in the 1st quarter. Arizona State Retirement System now owns 102,042 shares of the energy producer’s stock valued at $4,151,000 after buying an additional 280 shares in the last quarter. Shufro Rose & Co. LLC lifted its holdings in PDC Energy by 2.9% in the 2nd quarter. Shufro Rose & Co. LLC now owns 14,200 shares of the energy producer’s stock valued at $512,000 after acquiring an additional 400 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in PDC Energy by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,592 shares of the energy producer’s stock valued at $1,041,000 after acquiring an additional 462 shares during the last quarter. Versant Capital Management Inc lifted its holdings in PDC Energy by 47.0% in the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after acquiring an additional 520 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in PDC Energy by 0.3% in the 4th quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock valued at $4,928,000 after acquiring an additional 521 shares during the last quarter.

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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