Mizuho reaffirmed their buy rating on shares of PDC Energy, Inc. (NASDAQ:PDCE) in a research note issued to investors on Friday. Mizuho currently has a $55.00 price objective on the energy producer’s stock.
Other research analysts have also recently issued reports about the stock. Bank of America Corporation started coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They set a buy rating and a $60.00 price target on the stock. Stifel Nicolaus reiterated a buy rating and set a $76.00 price target on shares of PDC Energy in a research report on Wednesday, August 16th. Seaport Global Securities upgraded shares of PDC Energy from a neutral rating to a buy rating and increased their price target for the company from $46.00 to $51.00 in a research report on Friday, August 11th. Williams Capital set a $67.00 price target on shares of PDC Energy and gave the company a buy rating in a research report on Tuesday, August 8th. Finally, KeyCorp reiterated a buy rating and set a $50.00 price target on shares of PDC Energy in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. PDC Energy has a consensus rating of Hold and an average price target of $68.78.
PDC Energy (NASDAQ PDCE) traded up 2.43% during midday trading on Friday, reaching $49.40. 276,859 shares of the company traded hands. The stock’s 50 day moving average is $46.81 and its 200 day moving average is $47.22. PDC Energy has a one year low of $36.74 and a one year high of $84.88. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 350.35 and a beta of 0.84.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. PDC Energy had a net margin of 1.03% and a return on equity of 0.53%. The business had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. During the same period last year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was up 1269.2% on a year-over-year basis. On average, equities analysts anticipate that PDC Energy will post $0.21 earnings per share for the current year.
In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in PDC Energy by 5.5% during the second quarter. BlackRock Inc. now owns 7,272,730 shares of the energy producer’s stock valued at $313,529,000 after buying an additional 381,958 shares during the period. Vanguard Group Inc. lifted its position in PDC Energy by 13.5% during the second quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after buying an additional 677,329 shares during the period. Dimensional Fund Advisors LP lifted its position in PDC Energy by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,714,020 shares of the energy producer’s stock valued at $160,110,000 after buying an additional 328,518 shares during the period. Victory Capital Management Inc. lifted its position in PDC Energy by 1.4% during the third quarter. Victory Capital Management Inc. now owns 3,018,289 shares of the energy producer’s stock valued at $147,987,000 after buying an additional 42,425 shares during the period. Finally, State Street Corp lifted its position in PDC Energy by 24.8% during the second quarter. State Street Corp now owns 2,457,828 shares of the energy producer’s stock valued at $105,957,000 after buying an additional 487,816 shares during the period.
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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