PDC Energy (PDCE) Trading Down 5.7%
Shares of PDC Energy Inc (NASDAQ:PDCE) dropped 5.7% during mid-day trading on Thursday . The stock traded as low as $46.29 and last traded at $46.32. Approximately 1,119,885 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 792,892 shares. The stock had previously closed at $49.13.
PDCE has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $81.00 target price (down from $82.00) on shares of PDC Energy in a research note on Tuesday, November 7th. BidaskClub cut shares of PDC Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Williams Capital increased their price target on shares of PDC Energy from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Credit Suisse Group initiated coverage on shares of PDC Energy in a report on Monday, December 11th. They issued a “neutral” rating and a $51.00 price target on the stock. Finally, Barclays increased their price target on shares of PDC Energy from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. PDC Energy presently has a consensus rating of “Hold” and an average price target of $67.05.
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 company has a market cap of $3,051.23, a price-to-earnings ratio of -11.47 and a beta of 0.68.
Institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC grew its holdings in PDC Energy by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock worth $126,000 after acquiring an additional 1,168 shares during the last quarter. MHI Funds LLC bought a new stake in PDC Energy in the 4th quarter worth $138,000. First Mercantile Trust Co. grew its holdings in PDC Energy by 93.3% in the 4th quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after acquiring an additional 1,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PDC Energy by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,596 shares of the energy producer’s stock worth $185,000 after acquiring an additional 1,201 shares during the last quarter. Finally, Connable Office Inc. bought a new stake in PDC Energy in the 3rd quarter worth $202,000.
COPYRIGHT VIOLATION WARNING: “PDC Energy (PDCE) Trading Down 5.7%” was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://theolympiareport.com/2018/02/10/pdc-energy-pdce-trading-down-5-7.html.
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.
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.