PDC Energy, Inc. (PDCE) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of PDC Energy, Inc. (NASDAQ:PDCE) from a strong sell rating to a sell rating in a research note released on Wednesday morning.

A number of other brokerages have also recently issued reports on PDCE. Scotiabank set a $84.00 price objective on shares of PDC Energy and gave the company a hold rating in a research note on Tuesday, February 28th. Canaccord Genuity set a $85.00 price objective on shares of PDC Energy and gave the company a buy rating in a research note on Tuesday, February 28th. Williams Capital decreased their price objective on shares of PDC Energy from $94.00 to $88.00 and set a buy rating on the stock in a research note on Friday, April 21st. Credit Suisse Group cut shares of PDC Energy from an outperform rating to a neutral rating and set a $69.00 price objective on the stock. in a research note on Thursday, June 1st. Finally, Royal Bank Of Canada decreased their price objective on shares of PDC Energy from $82.00 to $78.00 and set an outperform rating on the stock in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $78.67.

Shares of PDC Energy (NASDAQ:PDCE) opened at 45.98 on Wednesday. The company has a 50 day moving average price of $50.79 and a 200 day moving average price of $64.88. The company’s market cap is $3.00 billion. PDC Energy has a one year low of $44.01 and a one year high of $84.88.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Friday, May 5th. The energy producer reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. The firm had revenue of $273.70 million during the quarter, compared to the consensus estimate of $182.05 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. The business’s revenue was up 201.4% compared to the same quarter last year. During the same period last year, the business earned ($0.89) earnings per share. Equities research analysts expect that PDC Energy will post $0.30 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2654942/pdc-energy-inc-pdce-upgraded-to-sell-by-bidaskclub.html.

In other news, Director Joseph E. Casabona sold 1,000 shares of PDC Energy stock in a transaction on Monday, April 17th. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00. Following the transaction, the director now owns 30,456 shares in the company, valued at $1,927,560.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,700 shares of PDC Energy stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $62.27, for a total transaction of $105,859.00. Following the transaction, the chief executive officer now owns 176,681 shares in the company, valued at approximately $11,001,925.87. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of PDCE. Causeway Capital Management LLC raised its position in shares of PDC Energy by 54.1% in the first quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock worth $234,496,000 after buying an additional 1,154,136 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of PDC Energy during the first quarter worth approximately $208,000. Teachers Retirement System of The State of Kentucky raised its position in shares of PDC Energy by 148.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 89,828 shares of the energy producer’s stock worth $5,601,000 after buying an additional 53,624 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of PDC Energy during the first quarter worth approximately $6,235,000. Finally, Macquarie Group Ltd. raised its position in shares of PDC Energy by 18.3% in the first quarter. Macquarie Group Ltd. now owns 406,617 shares of the energy producer’s stock worth $25,353,000 after buying an additional 62,817 shares during the period.

PDC Energy Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PDCE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.