PDC Energy (PDCE) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of PDC Energy (NASDAQ:PDCE) from a sell rating to a hold rating in a report released on Friday.

Several other research analysts also recently commented on the company. Stifel Nicolaus dropped their price target on PDC Energy from $83.00 to $81.00 and set a buy rating on the stock in a research report on Wednesday. Williams Capital dropped their price target on PDC Energy from $64.00 to $60.00 and set a buy rating on the stock in a research report on Tuesday. Credit Suisse Group began coverage on PDC Energy in a research report on Monday, December 11th. They issued a neutral rating and a $51.00 price target on the stock. Barclays lifted their price target on PDC Energy from $63.00 to $64.00 and gave the stock an overweight rating in a research report on Monday, November 20th. Finally, BMO Capital Markets set a $55.00 price target on PDC Energy and gave the stock a hold rating in a research report on Tuesday, November 14th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $67.62.

Shares of PDC Energy (NASDAQ:PDCE) traded down $0.02 during midday trading on Friday, reaching $44.35. The company’s stock had a trading volume of 956,018 shares, compared to its average volume of 846,608. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $2,922.78, a P/E ratio of 113.77 and a beta of 0.80. PDC Energy has a 52 week low of $36.74 and a 52 week high of $80.82.

In other news, COO Scott J. Reasoner sold 1,000 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of PDC Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 29,199 shares of the energy producer’s stock worth $1,259,000 after acquiring an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PDC Energy by 9.6% in the second 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. Municipal Employees Retirement System of Michigan increased its holdings in PDC Energy by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,200 shares of the energy producer’s stock valued at $569,000 after purchasing an additional 480 shares during the last quarter. Comerica Bank increased its holdings in PDC Energy by 1.4% in the second quarter. Comerica Bank now owns 66,958 shares of the energy producer’s stock valued at $3,004,000 after purchasing an additional 895 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in PDC Energy by 24.0% in the second quarter. Ameritas Investment Partners Inc. now owns 5,805 shares of the energy producer’s stock valued at $250,000 after purchasing an additional 1,123 shares during the last quarter.

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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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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