PDC Energy, Inc. (NASDAQ:PDCE) Upgraded by Seaport Global Securities to “Buy”

PDC Energy, Inc. (NASDAQ:PDCE) was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a report issued on Friday. Seaport Global Securities also issued estimates for PDC Energy’s Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at $0.09 EPS, Q1 2018 earnings at ($0.20) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.13) EPS and FY2018 earnings at ($0.66) EPS.

Several other analysts have also recently issued reports on the company. Williams Capital dropped their target price on PDC Energy from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, April 21st. Zacks Investment Research cut PDC Energy from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. Credit Suisse Group cut PDC Energy from an “outperform” rating to a “neutral” rating and set a $69.00 target price on the stock. in a research report on Thursday, June 1st. BidaskClub cut PDC Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $80.00 target price (down previously from $89.00) on shares of PDC Energy in a research report on Thursday, April 20th. One 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 company has an average rating of “Hold” and an average target price of $71.86.

PDC Energy (NASDAQ:PDCE) opened at 40.37 on Friday. PDC Energy has a 52 week low of $38.54 and a 52 week high of $84.88. The firm’s 50-day moving average price is $44.00 and its 200-day moving average price is $56.69. The stock has a market cap of $2.66 billion, a PE ratio of 286.31 and a beta of 0.81.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Tuesday, August 8th. The energy producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.20. The business had revenue of $275.20 million for the quarter, compared to analysts’ expectations of $218.90 million. PDC Energy had a return on equity of 0.53% and a net margin of 1.03%. The business’s revenue for the quarter was up 1269.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS. Equities analysts predict that PDC Energy will post $0.06 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was published by [[site]] and is owned by of [[site]]. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at [[permalink]].

A number of institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of PDC Energy by 8.5% in the first quarter. Great West Life Assurance Co. Can now owns 79,220 shares of the energy producer’s stock worth $4,939,000 after buying an additional 6,234 shares during the period. Whittier Trust Co. raised its position in PDC Energy by 4.8% in the first quarter. Whittier Trust Co. now owns 19,304 shares of the energy producer’s stock worth $1,204,000 after buying an additional 877 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in PDC Energy by 30.9% in the first quarter. Miller Howard Investments Inc. NY now owns 109,895 shares of the energy producer’s stock worth $6,852,000 after buying an additional 25,932 shares during the last quarter. Dubuque Bank & Trust Co. bought a new position in PDC Energy during the first quarter worth $147,000. Finally, Glen Harbor Capital Management LLC raised its position in PDC Energy by 19.8% in the first quarter. Glen Harbor Capital Management LLC now owns 3,052 shares of the energy producer’s stock worth $190,000 after buying an additional 504 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.