PDC Energy (NASDAQ:PDCE) Shares Down 3.9%

PDC Energy Inc (NASDAQ:PDCE) shares were down 3.9% during mid-day trading on Wednesday . The company traded as low as $33.74 and last traded at $32.86, approximately 47,909 shares traded hands during trading. A decline of 97% from the average daily volume of 1,724,049 shares. The stock had previously closed at $34.20.

A number of equities analysts have recently weighed in on PDCE shares. Imperial Capital reissued an “outperform” rating and issued a $50.00 price objective on shares of PDC Energy in a research report on Tuesday, August 27th. Zacks Investment Research lowered shares of PDC Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Wolfe Research raised shares of PDC Energy from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, August 27th. Credit Suisse Group raised shares of PDC Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $36.00 to $39.00 in a research report on Tuesday, August 27th. Finally, TD Securities boosted their price objective on shares of PDC Energy from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. PDC Energy currently has an average rating of “Buy” and an average target price of $49.65.

The firm has a market capitalization of $2.05 billion, a PE ratio of -11.09, a P/E/G ratio of 0.84 and a beta of 1.01. The firm’s 50 day moving average price is $29.22 and its two-hundred day moving average price is $35.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.50.



PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, August 7th. The energy producer reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.11). The firm had revenue of $390.70 million during the quarter, compared to analysts’ expectations of $333.78 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. PDC Energy’s revenue for the quarter was up 83.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. On average, sell-side analysts anticipate that PDC Energy Inc will post 1.61 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. CSat Investment Advisory L.P. purchased a new stake in shares of PDC Energy during the 2nd quarter worth about $120,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PDC Energy in the 2nd quarter valued at $230,000. Fox Run Management L.L.C. acquired a new stake in shares of PDC Energy in the 2nd quarter valued at $264,000. GYL Financial Synergies LLC acquired a new stake in shares of PDC Energy in the 1st quarter valued at $304,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of PDC Energy by 111,462.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,925 shares of the energy producer’s stock valued at $322,000 after purchasing an additional 8,917 shares in the last quarter.

PDC Energy Company Profile (NASDAQ:PDCE)

PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.

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