PDC Energy Inc (NASDAQ:PDCE) had its price objective upped by Barclays PLC from $59.00 to $63.00 in a research report issued on Wednesday. The firm presently has an “overweight” rating on the energy producer’s stock. Barclays PLC’s price objective would suggest a potential upside of 29.31% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Bank of America Corporation initiated coverage on shares of PDC Energy in a research note on Wednesday, July 19th. They set a “buy” rating and a $60.00 target price for the company. Seaport Global Securities upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $51.00 in a research note on Friday, August 11th. Mizuho upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $55.00 in a research note on Wednesday, August 9th. Williams Capital set a $67.00 target price on shares of PDC Energy and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus restated a “buy” rating and set a $76.00 price target on shares of PDC Energy in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. PDC Energy currently has an average rating of “Hold” and a consensus price target of $69.73.
Shares of PDC Energy (NASDAQ:PDCE) opened at 48.72 on Wednesday. PDC Energy has a 52 week low of $36.74 and a 52 week high of $84.88. The company’s 50-day moving average is $44.45 and its 200-day moving average is $48.39. The firm has a market cap of $3.18 billion, a PE ratio of 345.53 and a beta of 0.84.
PDC Energy (NASDAQ:PDCE) last released its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.20. PDC Energy had a net margin of 14.99% and a return on equity of 6.14%. The firm had revenue of $275.20 million during the quarter, compared to analyst estimates of $218.90 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 1269.2% compared to the same quarter last year. Analysts forecast that PDC Energy will post $0.21 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of PDCE. BlackRock Inc. lifted its holdings in PDC Energy by 47,702.8% in the 1st quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock valued at $429,640,000 after acquiring an additional 6,876,357 shares during the last quarter. UBS Group AG lifted its holdings in PDC Energy by 101.1% in the 1st quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock valued at $912,000 after acquiring an additional 1,395,552 shares during the last quarter. Causeway Capital Management LLC lifted its holdings in PDC Energy by 54.1% in the 1st quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock valued at $234,496,000 after acquiring an additional 1,154,136 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PDC Energy by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after acquiring an additional 677,329 shares during the last quarter. Finally, State Street Corp lifted its holdings in PDC Energy by 24.8% in the 2nd quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after acquiring an additional 487,816 shares during the last quarter.
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.
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