PDC Energy (NASDAQ:PDCE) had its price target boosted by Bank of America from $50.00 to $55.00 in a research report report published on Thursday. They currently have a buy rating on the energy producer’s stock.
Other analysts also recently issued reports about the company. Stifel Nicolaus decreased their target price on PDC Energy from $83.00 to $81.00 and set a buy rating on the stock in a research report on Wednesday, December 13th. Williams Capital decreased their target price on PDC Energy from $64.00 to $60.00 and set a buy rating on the stock in a research report on Tuesday, December 12th. BidaskClub upgraded PDC Energy from a hold rating to a buy rating in a research report on Friday, December 22nd. Mizuho restated a buy rating and issued a $66.00 price objective on shares of PDC Energy in a research report on Wednesday, January 17th. Finally, KeyCorp set a $65.00 price objective on PDC Energy and gave the company a buy rating in a research report on Sunday, January 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $66.50.
Shares of PDC Energy (NASDAQ PDCE) opened at $54.03 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3,564.09, a price-to-earnings ratio of -27.71 and a beta of 0.64. PDC Energy has a 12-month low of $36.74 and a 12-month high of $66.01.
Institutional investors have recently added to or reduced their stakes in the stock. MHI Funds LLC acquired a new position in PDC Energy in the fourth quarter valued at $138,000. First Mercantile Trust Co. increased its stake in PDC Energy by 93.3% in the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock valued at $149,000 after purchasing an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PDC Energy by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock valued at $185,000 after purchasing an additional 1,201 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in PDC Energy in the fourth quarter valued at $212,000. Finally, Connable Office Inc. acquired a new position in PDC Energy in the third quarter valued at $202,000.
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About PDC Energy
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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