PDC Energy Inc (NASDAQ:PDCE) has been given a consensus recommendation of “Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $29.43.

Several brokerages have recently issued reports on PDCE. ValuEngine lowered PDC Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday. TD Securities increased their target price on PDC Energy from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Co upped their price target on PDC Energy from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. KeyCorp cut their price target on PDC Energy from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Finally, Bank of America downgraded PDC Energy from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th.

In other news, Director Jeffrey C. Swoveland purchased 7,135 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $10.51 per share, for a total transaction of $74,988.85. Following the purchase, the director now directly owns 26,901 shares in the company, valued at approximately $282,729.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.93% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PDCE. Meeder Asset Management Inc. purchased a new position in shares of PDC Energy in the 4th quarter worth $26,000. Synovus Financial Corp bought a new position in PDC Energy in the 1st quarter worth $41,000. PNC Financial Services Group Inc. raised its holdings in PDC Energy by 145.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,359 shares of the energy producer’s stock worth $46,000 after purchasing an additional 4,357 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PDC Energy by 122.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the energy producer’s stock worth $50,000 after purchasing an additional 4,453 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in PDC Energy by 60.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,678 shares of the energy producer’s stock worth $54,000 after purchasing an additional 3,260 shares during the period.

PDCE traded up $0.83 during midday trading on Friday, reaching $14.23. 1,529,430 shares of the company’s stock traded hands, compared to its average volume of 2,383,312. PDC Energy has a 52 week low of $4.51 and a 52 week high of $36.49. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.57 and a beta of 2.88. The firm has a fifty day moving average of $13.53 and a two-hundred day moving average of $16.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.17 and a quick ratio of 1.17.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Thursday, May 7th. The energy producer reported ($8.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($8.14). PDC Energy had a negative return on equity of 29.17% and a negative net margin of 22.57%. The firm had revenue of $757.03 million during the quarter, compared to the consensus estimate of $386.16 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue was up 462.8% on a year-over-year basis. Sell-side analysts forecast that PDC Energy will post -1.23 EPS for the current year.

PDC Energy Company Profile

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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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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