PDC Energy (PDCE) Cut to Sell at BidaskClub

PDC Energy (NASDAQ:PDCE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on PDCE. BMO Capital Markets reissued a “hold” rating and issued a $58.00 target price on shares of PDC Energy in a research note on Thursday, January 11th. Jefferies Group set a $71.00 target price on PDC Energy and gave the stock a “buy” rating in a research note on Monday, March 19th. Deutsche Bank assumed coverage on PDC Energy in a research note on Wednesday. They issued a “buy” rating and a $62.00 target price on the stock. Johnson Rice assumed coverage on PDC Energy in a research note on Wednesday, March 21st. They issued a “buy” rating and a $66.00 target price on the stock. Finally, Bank of America increased their target price on PDC Energy from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. PDC Energy presently has an average rating of “Buy” and a consensus target price of $66.17.

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Shares of PDCE stock opened at $45.53 on Friday. The firm has a market capitalization of $3,122.80, a P/E ratio of -13.08, a PEG ratio of 0.53 and a beta of 0.66. PDC Energy has a twelve month low of $36.74 and a twelve month high of $65.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.96.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $189.52 million for the quarter, compared to analysts’ expectations of $263.28 million. equities analysts anticipate that PDC Energy will post 2.32 earnings per share for the current fiscal year.

In other news, EVP Lance Lauck sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $53.40, for a total transaction of $80,100.00. Following the transaction, the executive vice president now directly owns 91,917 shares of the company’s stock, valued at $4,908,367.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Scott J. Reasoner sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.83, for a total value of $55,830.00. Following the transaction, the chief operating officer now directly owns 62,338 shares in the company, valued at $3,480,330.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,814 shares of company stock worth $1,865,358. Corporate insiders own 0.91% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its holdings in shares of PDC Energy by 22.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 109,416 shares of the energy producer’s stock valued at $5,639,000 after purchasing an additional 20,082 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in PDC Energy in the fourth quarter valued at about $1,612,000. Municipal Employees Retirement System of Michigan lifted its holdings in PDC Energy by 19.4% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 29,620 shares of the energy producer’s stock valued at $1,526,000 after acquiring an additional 4,820 shares during the period. Jane Street Group LLC bought a new position in PDC Energy in the fourth quarter valued at about $212,000. Finally, Meadow Creek Investment Management LLC lifted its holdings in PDC Energy by 20.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 5,742 shares of the energy producer’s stock valued at $296,000 after acquiring an additional 990 shares during the period.

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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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