PDC Energy, Inc. (NASDAQ:PDCE) Receives $84.50 Consensus PT from Brokerages

Shares of PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.50.

A number of research firms have recently commented on PDCE. Mizuho reiterated a “buy” rating and set a $93.00 target price on shares of PDC Energy in a research report on Tuesday, April 11th. Roth Capital reaffirmed a “buy” rating on shares of PDC Energy in a research report on Friday, February 17th. StockNews.com assumed coverage on PDC Energy in a report on Thursday, May 18th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their target price on shares of PDC Energy from $65.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, April 21st. Finally, Truist Financial increased their price target on shares of PDC Energy from $70.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th.

PDC Energy Stock Performance

Shares of PDC Energy stock opened at $69.82 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.31. PDC Energy has a 52 week low of $51.72 and a 52 week high of $89.22. The firm’s 50 day moving average is $64.11 and its two-hundred day moving average is $66.49. The firm has a market capitalization of $6.11 billion, a P/E ratio of 2.97, a P/E/G ratio of 0.13 and a beta of 2.51.

PDC Energy (NASDAQ:PDCE – Get Rating) last posted its earnings results on Wednesday, February 22nd. The energy producer reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.17. PDC Energy had a net margin of 49.57% and a return on equity of 35.66%. The firm had revenue of $879.50 million for the quarter, compared to the consensus estimate of $892.11 million. During the same period last year, the firm posted $2.86 EPS. The company’s revenue was down 41.8% on a year-over-year basis. Research analysts forecast that PDC Energy will post 13.46 EPS for the current fiscal year.

Insider Transactions at PDC Energy

In other PDC Energy news, CAO Troy M. Welling sold 1,200 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $63.37, for a total transaction of $76,044.00. Following the completion of the transaction, the chief accounting officer now owns 13,269 shares in the company, valued at approximately $840,856.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO R Scott Meyers sold 2,500 shares of PDC Energy stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the sale, the chief financial officer now directly owns 164,910 shares in the company, valued at $9,894,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Troy M. Welling sold 1,200 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $63.37, for a total value of $76,044.00. Following the completion of the transaction, the chief accounting officer now owns 13,269 shares of the company’s stock, valued at approximately $840,856.53. The disclosure for this sale can be found here. Insiders sold 26,700 shares of company stock worth $1,736,659 over the last 90 days. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PDC Energy

Institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its holdings in PDC Energy by 61.7% during the third quarter. Illinois Municipal Retirement Fund now owns 11,503 shares of the energy producer’s stock worth $665,000 after purchasing an additional 4,388 shares during the last quarter. Bailard Inc. acquired a new position in shares of PDC Energy during the 4th quarter worth $362,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of PDC Energy in the 4th quarter worth about $26,000. Ronald Blue Trust Inc. grew its stake in PDC Energy by 1,007.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 941 shares of the energy producer’s stock valued at $54,000 after acquiring an additional 856 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel purchased a new position in PDC Energy during the 4th quarter valued at about $190,000. 96.16% of the stock is currently owned by hedge funds and other institutional investors.

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.