BidaskClub lowered shares of PDC Energy, Inc. (NASDAQ:PDCE) from a hold rating to a sell rating in a research note issued to investors on Saturday.
Several other analysts also recently weighed in on the stock. Williams Capital reduced their price objective on shares of PDC Energy from $94.00 to $88.00 and set a buy rating for the company in a research report on Friday, April 21st. Zacks Investment Research downgraded shares of PDC Energy from a buy rating to a hold rating in a research report on Friday, April 14th. Credit Suisse Group downgraded shares of PDC Energy from an outperform rating to a neutral rating and set a $69.00 price objective for the company. in a research report on Thursday, June 1st. Barclays PLC restated a buy rating and set a $80.00 price objective (down previously from $89.00) on shares of PDC Energy in a research report on Thursday, April 20th. Finally, Stifel Nicolaus restated a buy rating and set a $82.00 price objective on shares of PDC Energy in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $73.05.
Shares of PDC Energy (NASDAQ:PDCE) opened at 39.70 on Friday. PDC Energy has a 52-week low of $38.54 and a 52-week high of $84.88. The company’s 50-day moving average is $44.44 and its 200-day moving average is $57.65. The stock’s market cap is $2.59 billion.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Tuesday, August 8th. The energy producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.22. The business had revenue of $275.20 million during the quarter, compared to the consensus estimate of $218.90 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. The company’s revenue was up 1269.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. Equities analysts anticipate that PDC Energy will post $0.04 EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Thrivent Financial For Lutherans boosted its position in shares of PDC Energy by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 31,760 shares of the energy producer’s stock valued at $1,980,000 after buying an additional 1,750 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of PDC Energy by 37.5% in the first quarter. Pacer Advisors Inc. now owns 6,430 shares of the energy producer’s stock valued at $401,000 after buying an additional 1,755 shares in the last quarter. First National Bank of Omaha boosted its position in shares of PDC Energy by 30.3% in the first quarter. First National Bank of Omaha now owns 14,588 shares of the energy producer’s stock valued at $910,000 after buying an additional 3,390 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of PDC Energy by 12.7% in the first quarter. Systematic Financial Management LP now owns 530,883 shares of the energy producer’s stock valued at $33,101,000 after buying an additional 59,999 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of PDC Energy by 0.5% in the first quarter. Prudential Financial Inc. now owns 96,434 shares of the energy producer’s stock valued at $6,013,000 after buying an additional 518 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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