PDC Energy (PDCE) Lifted to Buy at BidaskClub

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PDC Energy (NASDAQ:PDCE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts have also weighed in on the stock. Williams Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of PDC Energy in a research note on Wednesday, December 12th. Citigroup initiated coverage on shares of PDC Energy in a research note on Wednesday, January 23rd. They issued a “buy” rating and a $45.00 price objective for the company. BMO Capital Markets upgraded shares of PDC Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Capital One Financial raised shares of PDC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 30th. Finally, Bank of America downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $60.85.

NASDAQ:PDCE opened at $40.38 on Friday. The firm has a market capitalization of $2.57 billion, a PE ratio of -13.64, a P/E/G ratio of 0.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.62 and a quick ratio of 0.62. PDC Energy has a twelve month low of $26.59 and a twelve month high of $66.20.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Wednesday, February 27th. The energy producer reported ($2.22) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($2.78). The company had revenue of $386.40 million during the quarter, compared to the consensus estimate of $360.91 million. PDC Energy had a net margin of 0.13% and a negative return on equity of 3.09%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. Analysts forecast that PDC Energy will post 2.39 EPS for the current fiscal year.

In other PDC Energy news, COO Scott J. Reasoner sold 1,300 shares of PDC Energy stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $40.00, for a total transaction of $52,000.00. Following the transaction, the chief operating officer now directly owns 91,827 shares of the company’s stock, valued at approximately $3,673,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony J. Crisafio sold 1,500 shares of PDC Energy stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $34.21, for a total transaction of $51,315.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its holdings in shares of PDC Energy by 1.5% in the 4th quarter. State of Alaska Department of Revenue now owns 22,090 shares of the energy producer’s stock worth $657,000 after buying an additional 325 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of PDC Energy by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,729 shares of the energy producer’s stock worth $468,000 after buying an additional 504 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of PDC Energy by 0.3% in the 4th quarter. Legal & General Group Plc now owns 166,815 shares of the energy producer’s stock worth $4,928,000 after buying an additional 521 shares during the last quarter. Teton Advisors Inc. boosted its holdings in shares of PDC Energy by 8.5% in the 4th quarter. Teton Advisors Inc. now owns 7,700 shares of the energy producer’s stock worth $229,000 after buying an additional 600 shares during the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of PDC Energy in the 4th quarter worth about $26,000.

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.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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