PDC Energy’s (PDCE) “Hold” Rating Reaffirmed at BMO Capital Markets

PDC Energy (NASDAQ:PDCE)‘s stock had its “hold” rating reiterated by analysts at BMO Capital Markets in a research report issued on Thursday. They presently have a $58.00 price objective on the energy producer’s stock. BMO Capital Markets’ target price suggests a potential upside of 4.54% from the stock’s current price.

PDCE has been the subject of a number of other research reports. BidaskClub upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Stifel Nicolaus set a $69.00 target price on PDC Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Barclays upped their target price on PDC Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. SunTrust Banks set a $55.00 target price on PDC Energy and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, Williams Capital lowered their target price on PDC Energy from $64.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, December 12th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.75.

PDC Energy (NASDAQ PDCE) traded up $1.69 during trading on Thursday, reaching $55.48. The company’s stock had a trading volume of 1,118,300 shares, compared to its average volume of 863,599. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3,650.00, a price-to-earnings ratio of -13.67 and a beta of 0.79. PDC Energy has a one year low of $36.74 and a one year high of $78.61.

In other news, COO Scott J. Reasoner sold 1,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barton R. Brookman, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total value of $78,120.00. Following the sale, the chief executive officer now owns 168,101 shares of the company’s stock, valued at approximately $8,754,700.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,000 shares of company stock valued at $207,860. Company insiders own 0.91% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PDC Energy by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 209 shares during the period. Seven Eight Capital LP acquired a new position in shares of PDC Energy in the 2nd quarter valued at $107,000. Flinton Capital Management LLC increased its position in shares of PDC Energy by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock valued at $126,000 after acquiring an additional 1,168 shares during the period. Riverhead Capital Management LLC increased its position in shares of PDC Energy by 67.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,528 shares of the energy producer’s stock valued at $195,000 after acquiring an additional 1,828 shares during the period. Finally, Connable Office Inc. acquired a new position in shares of PDC Energy in the 3rd quarter valued at $202,000.

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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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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