PDC Energy (PDCE) Downgraded by BidaskClub

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PDC Energy (NASDAQ:PDCE) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, BidAskClub reports.

Several other equities analysts also recently issued reports on PDCE. Zacks Investment Research downgraded shares of PDC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine downgraded shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Imperial Capital reaffirmed an “outperform” rating and set a $68.00 price target (up previously from $66.00) on shares of PDC Energy in a research note on Friday, May 3rd. Bank of America set a $54.00 price target on shares of PDC Energy and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Co started coverage on shares of PDC Energy in a research note on Monday, May 20th. They set an “outperform” rating and a $53.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. PDC Energy currently has a consensus rating of “Buy” and an average target price of $60.53.

Shares of PDCE opened at $31.79 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.11 billion, a P/E ratio of -10.74, a PEG ratio of 0.32 and a beta of 0.78. PDC Energy has a 1 year low of $26.59 and a 1 year high of $65.34.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Wednesday, May 1st. The energy producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.29). The firm had revenue of $134.50 million for the quarter, compared to analysts’ expectations of $325.83 million. PDC Energy had a negative net margin of 7.38% and a negative return on equity of 2.50%. The business’s quarterly revenue was down 48.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, equities analysts predict that PDC Energy will post 2.96 EPS for the current year.

In other news, insider Barton R. Brookman, Jr. sold 1,500 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $45.10, for a total value of $67,650.00. Following the transaction, the insider now owns 248,687 shares of the company’s stock, valued at approximately $11,215,783.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark E. Ellis bought 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $37.30 per share, for a total transaction of $373,000.00. Following the purchase, the director now owns 17,752 shares in the company, valued at approximately $662,149.60. The disclosure for this purchase can be found here. In the last three months, insiders sold 6,514 shares of company stock worth $284,708. Insiders own 1.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund purchased a new position in shares of PDC Energy in the 4th quarter valued at $25,000. Quantamental Technologies LLC purchased a new position in shares of PDC Energy in the 1st quarter valued at $63,000. Versant Capital Management Inc raised its stake in shares of PDC Energy by 47.0% in the 1st quarter. Versant Capital Management Inc now owns 1,627 shares of the energy producer’s stock valued at $66,000 after acquiring an additional 520 shares during the period. Pearl River Capital LLC purchased a new position in shares of PDC Energy in the 1st quarter valued at $92,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of PDC Energy by 63.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,412 shares of the energy producer’s stock valued at $139,000 after acquiring an additional 1,328 shares during the period.

PDC Energy Company Profile

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. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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