PDC Energy, Inc. (NASDAQ:PDCE) had its target price boosted by Barclays PLC from $59.00 to $63.00 in a research report sent to investors on Wednesday morning. The firm currently has an overweight rating on the energy producer’s stock.
A number of other brokerages also recently issued reports on PDCE. BidaskClub raised shares of PDC Energy from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. KeyCorp reissued a buy rating and set a $55.00 price objective on shares of PDC Energy in a research report on Tuesday, September 26th. Stifel Nicolaus set a $69.00 price objective on shares of PDC Energy and gave the company a buy rating in a research report on Thursday, October 5th. BMO Capital Markets set a $53.00 price objective on shares of PDC Energy and gave the company a hold rating in a research report on Tuesday. Finally, Jefferies Group LLC began coverage on shares of PDC Energy in a research report on Monday. They set a buy rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $69.14.
PDC Energy (NASDAQ PDCE) traded up 0.29% during midday trading on Wednesday, hitting $48.72. The company’s stock had a trading volume of 788,212 shares. The company’s 50 day moving average price is $44.16 and its 200 day moving average price is $48.38. The firm has a market cap of $3.18 billion, a P/E ratio of 345.53 and a beta of 0.84. PDC Energy has a 12 month low of $36.74 and a 12 month high of $84.88.
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Hedge funds have recently made changes to their positions in the business. Invictus RG lifted its stake in PDC Energy by 11.2% in the 1st quarter. Invictus RG now owns 2,151 shares of the energy producer’s stock worth $134,000 after purchasing an additional 216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after purchasing an additional 209 shares in the last quarter. Seven Eight Capital LP purchased a new stake in PDC Energy in the 2nd quarter worth $107,000. Integrated Investment Consultants LLC lifted its stake in PDC Energy by 27.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,525 shares of the energy producer’s stock worth $109,000 after purchasing an additional 547 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its stake in PDC Energy by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock worth $126,000 after purchasing an additional 1,168 shares in the last quarter.
About PDC Energy
PDC Energy, Inc is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.
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