PDC Energy (PDCE) Given Market Perform Rating at Ifs Securities

Ifs Securities reissued their market perform rating on shares of PDC Energy (NASDAQ:PDCE) in a report released on Sunday.

Other research analysts have also recently issued reports about the company. Williams Capital restated a buy rating and set a $62.00 price target on shares of PDC Energy in a research note on Wednesday, December 12th. BidaskClub lowered PDC Energy from a hold rating to a sell rating in a research report on Wednesday, October 24th. BMO Capital Markets raised PDC Energy from a market perform rating to an outperform rating in a report on Monday, January 7th. They noted that the move was a valuation call. Bank of America lowered PDC Energy from a buy rating to a neutral rating and set a $44.00 target price on the stock. in a report on Friday, January 4th. Finally, JPMorgan Chase & Co. set a $40.00 target price on PDC Energy and gave the company a buy rating in a report on Friday, December 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. PDC Energy has an average rating of Buy and a consensus price target of $63.80.

PDCE traded down $1.08 during trading hours on Friday, reaching $31.91. The company’s stock had a trading volume of 28,228 shares, compared to its average volume of 1,150,239. PDC Energy has a fifty-two week low of $26.59 and a fifty-two week high of $66.20. The stock has a market capitalization of $2.19 billion, a PE ratio of -9.16, a P/E/G ratio of 0.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.38.

PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Monday, November 5th. The energy producer reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.11). PDC Energy had a negative net margin of 10.52% and a positive return on equity of 3.64%. The business had revenue of $280.70 million during the quarter, compared to analyst estimates of $337.69 million. During the same quarter in the prior year, the company posted ($3.85) earnings per share. The company’s revenue was up 53.2% on a year-over-year basis. As a group, equities research analysts forecast that PDC Energy will post 1.73 earnings per share for the current fiscal year.

In related news, Director David C. Parke sold 700 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $40.07, for a total value of $28,049.00. Following the completion of the sale, the director now owns 12,641 shares in the company, valued at $506,524.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anthony J. Crisafio sold 1,500 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $34.21, for a total transaction of $51,315.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in PDCE. Oregon Public Employees Retirement Fund acquired a new stake in PDC Energy in the fourth quarter valued at about $25,000. Frontier Capital Management Co. LLC lifted its position in shares of PDC Energy by 72.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,416,006 shares of the energy producer’s stock valued at $69,328,000 after acquiring an additional 596,642 shares during the period. Ferox Capital Management LP acquired a new stake in shares of PDC Energy during the 3rd quarter valued at approximately $485,000. FMR LLC lifted its position in shares of PDC Energy by 12.4% during the 3rd quarter. FMR LLC now owns 3,805,490 shares of the energy producer’s stock valued at $186,317,000 after acquiring an additional 419,986 shares during the period. Finally, Perella Weinberg Partners Capital Management LP acquired a new stake in shares of PDC Energy during the 3rd quarter valued at approximately $19,931,000.

About PDC Energy

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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.

Featured Story: Short Selling – Explanation For Shorting Stocks

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

Receive News & Ratings for PDC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDC Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply