Several analysts have recently updated their ratings and price targets for PDC Energy (NASDAQ: PDCE):

  • 8/13/2019 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 8/12/2019 – PDC Energy had its price target raised by analysts at Wells Fargo & Co from $47.00 to $50.00. They now have an “outperform” rating on the stock.
  • 8/12/2019 – PDC Energy was given a new $47.00 price target on by analysts at MKM Partners. They now have a “buy” rating on the stock.
  • 8/9/2019 – PDC Energy had its price target lowered by analysts at TD Securities from $65.00 to $59.00. They now have a “buy” rating on the stock.
  • 8/1/2019 – PDC Energy was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/30/2019 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 7/18/2019 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
  • 7/11/2019 – PDC Energy was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $38.00 price target on the stock, down previously from $50.00.
  • 7/9/2019 – PDC Energy was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/2/2019 – PDC Energy was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Shares of PDCE stock traded up $0.20 during mid-day trading on Wednesday, reaching $27.81. The company’s stock had a trading volume of 892,476 shares, compared to its average volume of 1,205,177. PDC Energy Inc has a 1-year low of $24.13 and a 1-year high of $57.40. The company has a market cap of $1.71 billion, a P/E ratio of -9.40, a PEG ratio of 0.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day moving average is $29.27 and its two-hundred day moving average is $35.69.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Wednesday, August 7th. The energy producer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. The business had revenue of $390.70 million during the quarter, compared to analyst estimates of $333.78 million. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s quarterly revenue was up 83.9% compared to the same quarter last year. Sell-side analysts anticipate that PDC Energy Inc will post 1.68 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of PDC Energy by 13.4% during the 2nd quarter. Royal Bank of Canada now owns 62,135 shares of the energy producer’s stock worth $2,240,000 after purchasing an additional 7,341 shares in the last quarter. Eaton Vance Management increased its position in shares of PDC Energy by 9.3% during the 2nd quarter. Eaton Vance Management now owns 92,149 shares of the energy producer’s stock worth $3,323,000 after purchasing an additional 7,828 shares in the last quarter. William Marsh Rice University increased its position in shares of 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 purchasing an additional 64,158 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of PDC Energy during the 2nd quarter worth about $13,052,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of PDC Energy by 4.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 59,857 shares of the energy producer’s stock worth $2,158,000 after purchasing an additional 2,704 shares in the last quarter.

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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