PDC Energy Inc (NASDAQ:PDCE) gapped up prior to trading on Tuesday . The stock had previously closed at $31.34, but opened at $32.09. PDC Energy shares last traded at $32.41, with a volume of 1,966,850 shares changing hands.

PDCE has been the topic of a number of recent research reports. Wells Fargo & Co raised their price objective on shares of PDC Energy from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. MKM Partners upped their target price on shares of PDC Energy from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Imperial Capital reissued an “outperform” rating and issued a $50.00 price target on shares of PDC Energy in a research note on Tuesday, August 27th. Bank of America upgraded PDC Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $42.00 to $50.00 in a research report on Tuesday. Finally, Wolfe Research raised PDC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.65.

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 stock’s 50-day moving average is $28.64 and its 200 day moving average is $35.20. The firm has a market cap of $1.92 billion, a P/E ratio of -10.95, a PEG ratio of 0.83 and a beta of 1.01.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, August 7th. The energy producer reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.11). The business had revenue of $390.70 million for the quarter, compared to analyst estimates of $333.78 million. PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. The business’s quarterly revenue was up 83.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. On average, research analysts anticipate that PDC Energy Inc will post 1.52 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC acquired a new stake in shares of PDC Energy during the first quarter worth about $63,000. CSat Investment Advisory L.P. bought a new stake in PDC Energy during the 2nd quarter worth approximately $120,000. Strs Ohio increased its stake in PDC Energy by 125.0% during the 1st quarter. Strs Ohio now owns 3,600 shares of the energy producer’s stock worth $146,000 after purchasing an additional 2,000 shares in the last quarter. Connable Office Inc. bought a new stake in PDC Energy during the 1st quarter worth approximately $234,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in PDC Energy during the 1st quarter worth approximately $236,000.

About PDC Energy (NASDAQ:PDCE)

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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