KLR Group upgraded shares of PDC Energy, Inc. (NASDAQ:PDCE) from an accumulate rating to a buy rating in a research report sent to investors on Friday. KLR Group currently has $95.00 price target on the stock.
PDCE has been the topic of several other reports. Mizuho started coverage on shares of PDC Energy in a report on Wednesday, October 5th. They issued a neutral rating and a $69.00 price objective on the stock. Goldman Sachs Group, Inc. (The) lowered shares of PDC Energy from a buy rating to a neutral rating and upped their price objective for the stock from $82.00 to $88.00 in a report on Friday, December 16th. Nomura restated a hold rating and issued a $66.00 price objective on shares of PDC Energy in a report on Monday, November 7th. Zacks Investment Research upgraded shares of PDC Energy from a hold rating to a buy rating and set a $82.00 price objective on the stock in a report on Wednesday, January 18th. Finally, Canaccord Genuity set a $77.00 price objective on shares of PDC Energy and gave the stock a buy rating in a report on Monday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. PDC Energy presently has an average rating of Buy and an average price target of $75.69.
Shares of PDC Energy (NASDAQ:PDCE) opened at 77.0748 on Friday. The firm has a 50-day moving average of $76.32 and a 200 day moving average of $66.09. The firm’s market capitalization is $4.30 billion. PDC Energy has a 52 week low of $42.68 and a 52 week high of $84.88.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.11. PDC Energy had a negative return on equity of 2.31% and a negative net margin of 42.23%. The company earned $164 million during the quarter, compared to analyst estimates of $178.12 million. During the same quarter in the prior year, the company posted ($1.89) earnings per share. The business’s revenue was down 29.0% compared to the same quarter last year. On average, equities research analysts expect that PDC Energy will post ($0.42) EPS for the current fiscal year.
In other news, Chairman Jeffrey C. Swoveland sold 1,700 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $73.93, for a total value of $125,681.00. Following the completion of the transaction, the chairman now owns 20,906 shares in the company, valued at approximately $1,545,580.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel Willson Amidon sold 5,441 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $68.73, for a total transaction of $373,959.93. Following the completion of the transaction, the vice president now owns 66,071 shares of the company’s stock, valued at approximately $4,541,059.83. The disclosure for this sale can be found here. Insiders sold a total of 20,591 shares of company stock valued at $1,493,603 in the last 90 days. Company insiders own 1.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of PDC Energy by 31.2% in the third quarter. BlackRock Fund Advisors now owns 3,954,304 shares of the company’s stock worth $265,176,000 after buying an additional 940,134 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PDC Energy by 3.4% in the second quarter. Vanguard Group Inc. now owns 3,762,880 shares of the company’s stock worth $216,780,000 after buying an additional 124,751 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of PDC Energy by 12.2% in the third quarter. Victory Capital Management Inc. now owns 2,199,180 shares of the company’s stock worth $147,477,000 after buying an additional 239,674 shares in the last quarter. Van ECK Associates Corp increased its position in shares of PDC Energy by 199.4% in the second quarter. Van ECK Associates Corp now owns 2,031,800 shares of the company’s stock worth $117,052,000 after buying an additional 1,353,100 shares in the last quarter. Finally, Causeway Capital Management LLC bought a new position in shares of PDC Energy during the second quarter worth about $110,908,000.
About PDC Energy
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.