PDC Energy, Inc. (PDCE) Given a $55.00 Price Target at SunTrust Banks, Inc.

SunTrust Banks, Inc. set a $55.00 price target on PDC Energy, Inc. (NASDAQ:PDCE) in a report released on Sunday. The firm currently has a buy rating on the energy producer’s stock.

A number of other research analysts have also recently weighed in on the company. Mizuho reaffirmed a buy rating and set a $55.00 price objective on shares of PDC Energy in a research report on Friday. Williams Capital boosted their price target on PDC Energy from $58.00 to $60.00 and gave the stock a buy rating in a report on Wednesday, October 18th. Stifel Nicolaus boosted their price target on PDC Energy from $69.00 to $82.00 and gave the stock a buy rating in a report on Friday, October 13th. Barclays PLC boosted their price target on PDC Energy from $59.00 to $63.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Finally, BMO Capital Markets set a $53.00 price target on PDC Energy and gave the stock a hold rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $68.78.

PDC Energy (PDCE) traded up 3.26% on Friday, hitting $49.80. 723,958 shares of the company traded hands. PDC Energy has a 1-year low of $36.74 and a 1-year high of $84.88. The firm has a market capitalization of $3.25 billion, a PE ratio of 353.19 and a beta of 0.84. The firm’s 50 day moving average price is $46.81 and its 200 day moving average price is $47.22.

PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.20. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The firm had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. During the same period in the previous year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 1269.2% on a year-over-year basis. Equities research analysts predict that PDC Energy will post $0.21 EPS for the current fiscal year.

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In other news, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. increased its position in shares of PDC Energy by 0.3% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 13,424 shares of the energy producer’s stock valued at $579,000 after purchasing an additional 40 shares during the last quarter. Amalgamated Bank increased its position in shares of PDC Energy by 0.9% during the 1st quarter. Amalgamated Bank now owns 7,120 shares of the energy producer’s stock valued at $444,000 after purchasing an additional 64 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of PDC Energy by 2.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,784 shares of the energy producer’s stock valued at $236,000 after purchasing an additional 93 shares during the last quarter. Arizona State Retirement System increased its position in shares of PDC Energy by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock valued at $1,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PDC Energy by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after purchasing an additional 209 shares during the last quarter.

PDC Energy Company Profile

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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