PDC Energy (NASDAQ:PDCE) Stock Rating Upgraded by BidaskClub

PDC Energy (NASDAQ:PDCE) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research analysts have also recently weighed in on the stock. Wolfe Research upgraded shares of PDC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, August 27th. SunTrust Banks boosted their target price on shares of PDC Energy from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Zacks Investment Research upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. ValuEngine upgraded shares of PDC Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America upgraded shares of PDC Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $42.00 to $50.00 in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company. PDC Energy presently has a consensus rating of “Buy” and a consensus target price of $49.67.

Shares of PDCE stock traded down $0.05 during trading hours on Wednesday, hitting $25.54. 1,517,400 shares of the company’s stock traded hands, compared to its average volume of 1,337,677. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.47 billion, a PE ratio of -8.63, a price-to-earnings-growth ratio of 0.77 and a beta of 0.93. PDC Energy has a 12 month low of $19.57 and a 12 month high of $47.29. The stock’s 50 day simple moving average is $24.80 and its 200 day simple moving average is $30.77.

PDC Energy (NASDAQ:PDCE) last released its earnings results on Wednesday, November 6th. The energy producer reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.69). The company had revenue of $365.94 million during the quarter, compared to analysts’ expectations of $325.37 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities research analysts expect that PDC Energy will post 1.24 EPS for the current fiscal year.

In other news, Director Anthony J. Crisafio sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $35.09, for a total value of $52,635.00. Following the sale, the director now owns 22,130 shares of the company’s stock, valued at $776,541.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in PDC Energy by 1.7% during the 2nd quarter. Northern Trust Corp now owns 1,389,279 shares of the energy producer’s stock worth $50,097,000 after acquiring an additional 23,318 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PDC Energy by 4.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 515,535 shares of the energy producer’s stock worth $18,591,000 after acquiring an additional 22,433 shares during the period. William Marsh Rice University increased its holdings in PDC Energy by 18.8% during the 2nd quarter. William Marsh Rice University now owns 404,851 shares of the energy producer’s stock worth $14,599,000 after acquiring an additional 64,158 shares during the period. Nuveen Asset Management LLC bought a new stake in PDC Energy during the 2nd quarter worth approximately $13,052,000. Finally, Anchor Capital Advisors LLC increased its holdings in PDC Energy by 1.0% during the 2nd quarter. Anchor Capital Advisors LLC now owns 354,149 shares of the energy producer’s stock worth $12,771,000 after acquiring an additional 3,348 shares during the period.

PDC Energy Company Profile

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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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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