SunTrust Banks, Inc. set a $55.00 price target on PDC Energy, Inc. (NASDAQ:PDCE) in a research report sent to investors on Sunday, October 29th. The firm currently has a buy rating on the energy producer’s stock.
Several other research firms have also issued reports on PDCE. Bank of America Corporation assumed coverage on PDC Energy in a research report on Wednesday, July 19th. They set a buy rating and a $60.00 target price for the company. KeyCorp reiterated a buy rating and set a $50.00 price objective on shares of PDC Energy in a report on Tuesday, September 19th. Stifel Nicolaus reiterated a buy rating and set a $76.00 price objective on shares of PDC Energy in a report on Wednesday, August 16th. Seaport Global Securities upgraded PDC Energy from a neutral rating to a buy rating and lifted their price objective for the company from $46.00 to $51.00 in a report on Friday, August 11th. Finally, Mizuho upgraded PDC Energy from a neutral rating to a buy rating and boosted their target price for the company from $53.00 to $55.00 in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $68.95.
Shares of PDC Energy (PDCE) opened at $44.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3,175.73, a PE ratio of 123.61 and a beta of 0.82. PDC Energy has a 12-month low of $36.74 and a 12-month high of $84.88.
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In related news, COO Scott J. Reasoner sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.64, for a total transaction of $49,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.91% of the company’s stock.
A number of large investors have recently made changes to their positions in PDCE. Teachers Advisors LLC boosted its holdings in PDC Energy by 3.5% in the first quarter. Teachers Advisors LLC now owns 105,212 shares of the energy producer’s stock worth $6,560,000 after acquiring an additional 3,511 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PDC Energy by 2.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,784 shares of the energy producer’s stock valued at $236,000 after purchasing an additional 93 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDC Energy by 4.2% in the first quarter. Vanguard Group Inc. now owns 5,001,093 shares of the energy producer’s stock valued at $311,818,000 after purchasing an additional 203,524 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PDC Energy by 9.0% in the first quarter. Geode Capital Management LLC now owns 466,479 shares of the energy producer’s stock valued at $29,084,000 after purchasing an additional 38,483 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of PDC Energy by 101.1% in the first quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock valued at $912,000 after purchasing an additional 1,395,552 shares in the last quarter.
PDC Energy Company Profile
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.
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