PDC Energy (PDCE) Research Coverage Started at Johnson Rice

Investment analysts at Johnson Rice initiated coverage on shares of PDC Energy (NASDAQ:PDCE) in a report released on Wednesday. The brokerage set a “buy” rating and a $66.00 price target on the energy producer’s stock. Johnson Rice’s price target would indicate a potential upside of 25.28% from the stock’s previous close.

Several other research firms have also commented on PDCE. BidaskClub raised PDC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. BMO Capital Markets reissued a “hold” rating and issued a $58.00 price objective on shares of PDC Energy in a research report on Thursday, January 11th. 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. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price objective on shares of PDC Energy in a research report on Sunday, January 28th. Finally, Williams Capital reissued a “buy” rating and issued a $76.00 price objective (up from $69.00) on shares of PDC Energy in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $67.05.

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PDCE stock opened at $52.68 on Wednesday. PDC Energy has a fifty-two week low of $36.74 and a fifty-two week high of $65.99. The firm has a market capitalization of $3,401.83, a price-to-earnings ratio of -27.02, a P/E/G ratio of 0.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96.

PDC Energy (NASDAQ:PDCE) last issued its earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%. The firm had revenue of $189.52 million for the quarter, compared to analysts’ expectations of $263.28 million. equities analysts forecast that PDC Energy will post 2.29 EPS for the current fiscal year.

In other news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $55,830.00. Following the sale, the chief operating officer now directly owns 62,338 shares of the company’s stock, valued at $3,480,330.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $52.08, for a total value of $78,120.00. Following the sale, the chief executive officer now directly owns 168,101 shares in the company, valued at $8,754,700.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,814 shares of company stock worth $1,821,178. Corporate insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. MHI Funds LLC purchased a new stake in shares of PDC Energy during the fourth quarter worth about $138,000. First Mercantile Trust Co. increased its holdings 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 buying an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 buying an additional 1,201 shares during the last quarter. ETRADE Capital Management LLC bought a new stake in PDC Energy in the fourth quarter valued at about $212,000. Finally, Jane Street Group LLC bought a new stake in PDC Energy in the fourth quarter valued at about $212,000.

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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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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