PDC Energy (PDCE) PT Lowered to $86.00 at Stifel Nicolaus

PDC Energy (NASDAQ:PDCE) had its target price reduced by Stifel Nicolaus from $87.00 to $86.00 in a report issued on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the energy producer’s stock.

PDCE has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of PDC Energy from a buy rating to a hold rating in a research note on Friday, August 3rd. BidaskClub downgraded shares of PDC Energy from a strong-buy rating to a buy rating in a research note on Tuesday, July 3rd. TD Securities started coverage on shares of PDC Energy in a research note on Thursday, July 5th. They set a buy rating and a $80.00 price target on the stock. SunTrust Banks lifted their price target on shares of PDC Energy to $62.00 and gave the stock a buy rating in a research note on Friday, May 4th. Finally, ValuEngine upgraded shares of PDC Energy from a hold rating to a buy rating in a research note on Wednesday, June 27th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $71.56.

PDCE traded down $0.21 during trading on Thursday, reaching $55.04. 940,304 shares of the company’s stock were exchanged, compared to its average volume of 895,505. PDC Energy has a fifty-two week low of $36.74 and a fifty-two week high of $66.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.36 and a quick ratio of 0.54. The company has a market capitalization of $3.65 billion, a P/E ratio of -15.82, a P/E/G ratio of 0.63 and a beta of 0.64.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, August 8th. The energy producer reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.04). PDC Energy had a positive return on equity of 2.52% and a negative net margin of 43.37%. The business had revenue of $212.53 million for the quarter, compared to analyst estimates of $308.73 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down 22.8% on a year-over-year basis. equities research analysts expect that PDC Energy will post 1.83 EPS for the current fiscal year.

In related news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $61.39, for a total value of $61,390.00. Following the completion of the transaction, the chief operating officer now directly owns 74,720 shares of the company’s stock, valued at $4,587,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Barton R. Brookman, Jr. sold 1,500 shares of PDC Energy stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $62.57, for a total value of $93,855.00. Following the completion of the transaction, the insider now directly owns 205,026 shares of the company’s stock, valued at $12,828,476.82. The disclosure for this sale can be found here. Insiders sold 19,545 shares of company stock valued at $1,206,243 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Centaurus Financial Inc. bought a new stake in PDC Energy during the 1st quarter worth about $107,000. Russell Investments Group Ltd. bought a new stake in PDC Energy during the 1st quarter worth about $192,000. Jane Street Group LLC bought a new stake in PDC Energy during the 4th quarter worth about $212,000. Pitcairn Co. bought a new stake in PDC Energy during the 1st quarter worth about $205,000. Finally, Dubuque Bank & Trust Co. raised its holdings in PDC Energy by 31.8% during the 1st quarter. Dubuque Bank & Trust Co. now owns 4,469 shares of the energy producer’s stock worth $219,000 after purchasing an additional 1,077 shares during the last quarter.

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. 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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