PDC Energy, Inc. (NASDAQ:PDCE) Receives Average Rating of “Buy” from Analysts

PDC Energy, Inc. (NASDAQ:PDCEGet Rating) has been given an average recommendation of “Buy” by the twelve analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $81.78.

Several analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of PDC Energy from $82.00 to $87.00 in a research report on Monday, February 28th. Zacks Investment Research lowered PDC Energy from a “strong-buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Tuesday, January 4th. TD Securities boosted their price target on shares of PDC Energy from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. Truist Financial boosted their price target on shares of PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. Finally, StockNews.com assumed coverage on shares of PDC Energy in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

In other PDC Energy news, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $73.14, for a total value of $73,140.00. Following the completion of the transaction, the chief financial officer now owns 119,128 shares in the company, valued at $8,713,021.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn A. Peterson sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $58.10, for a total transaction of $290,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,383 shares of company stock valued at $1,939,629. Insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCE. SG Americas Securities LLC boosted its stake in PDC Energy by 221.3% in the third quarter. SG Americas Securities LLC now owns 21,285 shares of the energy producer’s stock valued at $1,009,000 after acquiring an additional 14,661 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PDC Energy by 2.9% in the third quarter. PNC Financial Services Group Inc. now owns 15,036 shares of the energy producer’s stock valued at $713,000 after buying an additional 427 shares during the last quarter. Boston Partners raised its holdings in shares of PDC Energy by 13.4% in the third quarter. Boston Partners now owns 757,383 shares of the energy producer’s stock valued at $35,903,000 after buying an additional 89,683 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of PDC Energy in the third quarter valued at about $26,000. Finally, Keybank National Association OH raised its holdings in shares of PDC Energy by 9.6% in the third quarter. Keybank National Association OH now owns 31,353 shares of the energy producer’s stock valued at $1,486,000 after buying an additional 2,753 shares during the last quarter.

PDCE stock opened at $68.93 on Tuesday. The firm has a market cap of $6.64 billion, a PE ratio of 13.10 and a beta of 2.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.50 and a current ratio of 0.50. The firm’s 50 day moving average price is $70.66 and its 200-day moving average price is $59.85. PDC Energy has a one year low of $34.52 and a one year high of $79.39.

PDC Energy (NASDAQ:PDCEGet Rating) last released its quarterly earnings results on Monday, February 28th. The energy producer reported $2.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.46. The firm had revenue of $854.64 million for the quarter, compared to analyst estimates of $691.65 million. PDC Energy had a net margin of 28.15% and a return on equity of 31.34%. Equities research analysts predict that PDC Energy will post 16.27 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from PDC Energy’s previous quarterly dividend of $0.12. PDC Energy’s payout ratio is presently 19.01%.

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.

Further Reading

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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