PDC Energy (NASDAQ:PDCE – Get Rating) had its target price lowered by analysts at The Goldman Sachs Group from $87.00 to $77.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the energy producer’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 25.67% from the stock’s current price.
A number of other analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of PDC Energy in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Truist Financial increased their price objective on shares of PDC Energy from $80.00 to $96.00 in a research report on Thursday, April 21st. KeyCorp upped their target price on shares of PDC Energy from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. TheStreet downgraded shares of PDC Energy from a “b” rating to a “c+” rating in a research note on Wednesday, May 4th. Finally, Wells Fargo & Company upped their target price on shares of PDC Energy from $71.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, March 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $86.63.
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Shares of NASDAQ PDCE opened at $61.27 on Tuesday. The firm’s 50-day moving average price is $71.25 and its 200-day moving average price is $65.78. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 12.21 and a beta of 2.73. PDC Energy has a 12-month low of $34.52 and a 12-month high of $89.22.
PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy producer reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.48. PDC Energy had a net margin of 26.48% and a return on equity of 38.99%. The company had revenue of $316.45 million for the quarter, compared to analyst estimates of $702.98 million. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that PDC Energy will post 18.73 EPS for the current fiscal year.
In related news, CFO R Scott Meyers sold 1,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $68.47, for a total transaction of $68,470.00. Following the completion of the transaction, the chief financial officer now owns 118,128 shares of the company’s stock, valued at $8,088,224.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $68.10, for a total transaction of $136,200.00. Following the transaction, the chief executive officer now directly owns 402,201 shares of the company’s stock, valued at approximately $27,389,888.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,038 shares of company stock valued at $3,750,816. 1.20% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PDCE. Janus Henderson Group PLC acquired a new stake in PDC Energy during the third quarter valued at $477,000. Captrust Financial Advisors grew its position in PDC Energy by 5.6% during the third quarter. Captrust Financial Advisors now owns 5,020 shares of the energy producer’s stock valued at $238,000 after buying an additional 265 shares during the period. Moors & Cabot Inc. acquired a new stake in PDC Energy during the third quarter valued at $26,000. Crossmark Global Holdings Inc. grew its position in PDC Energy by 6.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 7,610 shares of the energy producer’s stock valued at $371,000 after buying an additional 450 shares during the period. Finally, Spire Wealth Management acquired a new stake in PDC Energy during the fourth quarter valued at $413,000.
PDC Energy Company Profile (Get Rating)
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.
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