PDC Energy (NASDAQ:PDCE) Downgraded by BidaskClub

BidaskClub downgraded shares of PDC Energy (NASDAQ:PDCE) from a strong-buy rating to a buy rating in a research report released on Thursday, January 18th.

A number of other equities analysts also recently issued reports on PDCE. KeyCorp reissued a buy rating and issued a $55.00 price objective on shares of PDC Energy in a report on Tuesday, September 26th. Stifel Nicolaus set a $69.00 target price on shares of PDC Energy and gave the stock a buy rating in a research note on Thursday, October 5th. Jefferies Group began coverage on shares of PDC Energy in a research note on Monday, October 9th. They set a buy rating and a $60.00 target price on the stock. BMO Capital Markets set a $53.00 target price on shares of PDC Energy and gave the stock a hold rating in a research note on Tuesday, October 10th. Finally, Barclays raised their target price on shares of PDC Energy from $59.00 to $63.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $67.05.

PDC Energy (PDCE) traded down $0.20 on Thursday, hitting $48.35. 527,029 shares of the company were exchanged, compared to its average volume of 799,178. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $3,066.38, a P/E ratio of -11.91 and a beta of 0.68. PDC Energy has a one year low of $36.74 and a one year high of $73.71.

In related news, CEO Barton R. Brookman, Jr. sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $52.08, for a total value of $78,120.00. Following the sale, the chief executive officer now owns 168,101 shares in the company, valued at $8,754,700.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott J. Reasoner sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.83, for a total transaction of $55,830.00. Following the completion of the sale, the chief operating officer now owns 62,338 shares in the company, valued at approximately $3,480,330.54. The disclosure for this sale can be found here. Insiders sold 7,200 shares of company stock worth $386,751 in the last 90 days. 0.91% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PDCE. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PDC Energy by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,395 shares of the energy producer’s stock worth $103,000 after buying an additional 209 shares during the period. Seven Eight Capital LP purchased a new position in PDC Energy during the second quarter worth $107,000. Flinton Capital Management LLC boosted its stake in PDC Energy by 67.0% during the second quarter. Flinton Capital Management LLC now owns 2,912 shares of the energy producer’s stock worth $126,000 after buying an additional 1,168 shares during the period. MHI Funds LLC purchased a new position in PDC Energy during the fourth quarter worth $138,000. Finally, First Mercantile Trust Co. boosted its stake in PDC Energy by 93.3% during the fourth quarter. First Mercantile Trust Co. now owns 2,900 shares of the energy producer’s stock worth $149,000 after buying an additional 1,400 shares during the period.

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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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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