PDC Energy (NASDAQ:PDCE) Downgraded by TheStreet

PDC Energy (NASDAQ:PDCEGet Rating) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Wednesday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on PDCE. TD Securities lifted their price target on shares of PDC Energy from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, March 2nd. KeyCorp upped their price target on PDC Energy from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. MKM Partners increased their price target on PDC Energy from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. Wells Fargo & Company boosted their price objective on PDC Energy from $71.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. Finally, Truist Financial increased their target price on shares of PDC Energy from $80.00 to $96.00 in a research report on Thursday, April 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, PDC Energy has an average rating of “Buy” and an average target price of $81.78.

NASDAQ PDCE opened at $73.09 on Wednesday. The business’s fifty day moving average is $71.76 and its 200-day moving average is $60.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 14.56 and a beta of 2.75. PDC Energy has a one year low of $34.52 and a one year high of $79.39.

PDC Energy (NASDAQ:PDCEGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy producer reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.73. The business had revenue of $316.45 million during the quarter, compared to the consensus estimate of $702.98 million. PDC Energy had a net margin of 28.15% and a return on equity of 31.34%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. Research analysts expect that PDC Energy will post 16.27 EPS for the current fiscal year.

In other news, SVP Nicole L. Martinet sold 3,342 shares of the business’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $67.68, for a total transaction of $226,186.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of 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. Insiders sold 32,383 shares of company stock valued at $2,144,299 over the last 90 days. 1.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC boosted its stake in PDC Energy by 4.6% in the first quarter. Fisher Asset Management LLC now owns 1,516,674 shares of the energy producer’s stock worth $110,232,000 after buying an additional 67,163 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of PDC Energy by 118.2% in the 1st quarter. Russell Investments Group Ltd. now owns 15,436 shares of the energy producer’s stock worth $1,121,000 after acquiring an additional 8,362 shares during the last quarter. California Public Employees Retirement System purchased a new stake in shares of PDC Energy in the 1st quarter valued at $6,898,000. Advisor Group Holdings Inc. grew its holdings in shares of PDC Energy by 69.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 7,340 shares of the energy producer’s stock valued at $534,000 after purchasing an additional 3,008 shares during the last quarter. Finally, State of Michigan Retirement System purchased a new position in PDC Energy in the 1st quarter worth $1,797,000.

About PDC Energy (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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