PDC Energy Inc (NASDAQ:PDCE) Receives $60.56 Consensus Target Price from Brokerages

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PDC Energy Inc (NASDAQ:PDCE) has received an average rating of “Hold” from the twenty-six analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $60.56.

Several research firms have recently commented on PDCE. Wells Fargo & Co lowered shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, May 20th. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Williams Capital set a $30.00 price target on shares of Mdu Resources Group and gave the company a “buy” rating in a research report on Thursday, May 2nd. Imperial Capital reissued an “in-line” rating and issued a $29.00 target price (down previously from $33.00) on shares of Whiting Petroleum in a research report on Friday, May 3rd. Finally, Cowen set a $27.00 target price on Schnitzer Steel Industries and gave the company a “hold” rating in a research report on Tuesday, April 9th.

In other PDC Energy news, Director Mark E. Ellis purchased 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $37.30 per share, for a total transaction of $373,000.00. Following the completion of the purchase, the director now directly owns 17,752 shares in the company, valued at approximately $662,149.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Texas Permanent School Fund raised its stake in PDC Energy by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 43,242 shares of the energy producer’s stock valued at $1,287,000 after buying an additional 1,669 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in PDC Energy by 9.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 90,220 shares of the energy producer’s stock valued at $2,478,000 after buying an additional 8,062 shares during the last quarter. California State Teachers Retirement System raised its stake in PDC Energy by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 103,524 shares of the energy producer’s stock valued at $3,081,000 after buying an additional 2,107 shares during the last quarter. Geode Capital Management LLC raised its stake in PDC Energy by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 736,641 shares of the energy producer’s stock valued at $21,921,000 after buying an additional 48,261 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in PDC Energy during the fourth quarter valued at $652,000.

PDCE stock opened at $30.14 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -10.18, a PEG ratio of 0.50 and a beta of 1.14. 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 firm’s 50 day moving average price is $32.94. PDC Energy has a one year low of $26.59 and a one year high of $64.66.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Wednesday, May 1st. The energy producer reported $0.27 EPS for the quarter, missing the Thomson Reuters’ 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 firm’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, sell-side analysts forecast that PDC Energy will post 2.53 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. 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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