Brokerages Set PDC Energy (PDCE) Target Price at $67.76

PDC Energy (NASDAQ:PDCE) has been assigned a consensus recommendation of “Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $67.78.

A number of equities research analysts recently weighed in on the company. Jefferies Group restated a “buy” rating and set a $70.00 price objective on shares of PDC Energy in a research report on Thursday. Stifel Nicolaus set a $91.00 price objective on PDC Energy and gave the stock a “buy” rating in a research report on Monday. Stephens restated a “buy” rating and set a $73.00 price objective on shares of PDC Energy in a research report on Tuesday. BMO Capital Markets restated a “hold” rating and set a $58.00 price objective on shares of PDC Energy in a research report on Thursday, January 11th. Finally, Bank of America boosted their price objective on PDC Energy from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, April 16th.

In other news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the transaction, the chief operating officer now directly owns 75,720 shares of the company’s stock, valued at approximately $4,164,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $51.86, for a total value of $77,790.00. Following the completion of the transaction, the chief executive officer now directly owns 173,473 shares in the company, valued at $8,996,309.78. The disclosure for this sale can be found here. Insiders sold a total of 32,114 shares of company stock worth $1,715,767 over the last three months. 0.91% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in PDC Energy by 19.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 350,502 shares of the energy producer’s stock worth $17,186,000 after buying an additional 57,465 shares during the period. Cubist Systematic Strategies LLC raised its stake in PDC Energy by 522.2% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 6,216 shares of the energy producer’s stock worth $305,000 after buying an additional 5,217 shares during the period. California Public Employees Retirement System raised its stake in PDC Energy by 2.0% during the 3rd quarter. California Public Employees Retirement System now owns 97,000 shares of the energy producer’s stock worth $4,756,000 after buying an additional 1,900 shares during the period. National Investment Services Inc. WI raised its stake in PDC Energy by 70.7% during the 4th quarter. National Investment Services Inc. WI now owns 7,186 shares of the energy producer’s stock worth $370,000 after buying an additional 2,977 shares during the period. Finally, Gofen & Glossberg LLC IL acquired a new position in PDC Energy during the 4th quarter worth approximately $340,000.

PDCE stock traded up $0.58 during midday trading on Thursday, reaching $55.24. 613,991 shares of the stock were exchanged, compared to its average volume of 942,556. The firm has a market capitalization of $3,616.96, a P/E ratio of -15.87, a P/E/G ratio of 0.58 and a beta of 0.66. PDC Energy has a 52 week low of $36.74 and a 52 week high of $59.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.46.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Monday, February 26th. The energy producer reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $189.52 million for the quarter, compared to analyst estimates of $263.28 million. PDC Energy had a positive return on equity of 1.17% and a negative net margin of 13.13%. equities research analysts expect that PDC Energy will post 2.44 EPS for the current fiscal year.

About PDC Energy

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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