PDC Energy (NASDAQ:PDCE) Downgraded to “Neutral” at Mizuho

Mizuho lowered shares of PDC Energy (NASDAQ:PDCE – Get Rating) from a buy rating to a neutral rating in a research report report published on Wednesday, The Fly reports.

Several other research firms have also recently issued reports on PDCE. Truist Financial lifted their price objective on shares of PDC Energy from $70.00 to $77.00 and gave the stock a hold rating in a research report on Tuesday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of PDC Energy from $76.00 to $80.00 in a research report on Thursday, April 6th. Roth Capital reaffirmed a buy rating on shares of PDC Energy in a research report on Friday, February 17th. StockNews.com assumed coverage on shares of PDC Energy in a research report on Thursday, May 18th. They set a hold rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of PDC Energy from $65.00 to $76.00 and gave the stock a neutral rating in a research report on Friday, April 21st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, PDC Energy presently has a consensus rating of Hold and an average target price of $84.50.

PDC Energy Stock Up 0.4 %

PDC Energy stock opened at $71.98 on Wednesday. The firm has a 50 day moving average price of $64.55 and a 200 day moving average price of $66.49. The company has a market capitalization of $6.30 billion, a PE ratio of 3.07, a price-to-earnings-growth ratio of 0.14 and a beta of 2.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.43 and a current ratio of 0.43. PDC Energy has a fifty-two week low of $51.72 and a fifty-two week high of $89.22.

PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The energy producer reported $3.22 EPS for the quarter, topping the consensus estimate of $3.05 by $0.17. The business had revenue of $879.50 million during the quarter, compared to the consensus estimate of $892.11 million. PDC Energy had a net margin of 49.57% and a return on equity of 35.66%. The company’s quarterly revenue was down 41.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.86 earnings per share. Research analysts expect that PDC Energy will post 13.34 earnings per share for the current year.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of PDC Energy stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $62.00, for a total value of $434,000.00. Following the transaction, the director now directly owns 233,167 shares in the company, valued at $14,456,354. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $69.70, for a total value of $174,250.00. Following the sale, the chief financial officer now owns 162,410 shares of the company’s stock, valued at $11,319,977. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn A. Peterson sold 7,000 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $62.00, for a total transaction of $434,000.00. Following the completion of the sale, the director now directly owns 233,167 shares in the company, valued at approximately $14,456,354. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,700 shares of company stock worth $1,736,659. 1.50% of the stock is owned by company insiders.

Institutional Trading of PDC Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis purchased a new stake in shares of PDC Energy in the fourth quarter valued at about $25,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of PDC Energy in the fourth quarter valued at about $26,000. Belpointe Asset Management LLC purchased a new stake in shares of PDC Energy in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its stake in shares of PDC Energy by 129.5% during the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after buying an additional 250 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of PDC Energy by 2,600.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock valued at $29,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 96.16% of the company’s stock.

PDC Energy Company Profile

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PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.