PDC Energy Inc. (PDCE) Stock Price Down 0.2%
PDC Energy Inc. (NASDAQ:PDCE)’s share price was down 0.2% on Friday . The company traded as low as $55.03 and last traded at $55.38, with a volume of 854,565 shares traded. The stock had previously closed at $55.48.
A number of equities analysts have recently weighed in on PDCE shares. Wells Fargo & Co. reissued a “buy” rating on shares of PDC Energy in a research report on Monday, March 28th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of PDC Energy in a research report on Wednesday, June 8th. Stifel Nicolaus reissued a “buy” rating and set a $70.00 price target (up from $65.00) on shares of PDC Energy in a research report on Friday, April 8th. Cowen and Company raised their price objective on shares of PDC Energy from $56.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, April 8th. Finally, Scotiabank restated a “sector outperform” rating and set a $80.00 price objective (up from $75.00) on shares of PDC Energy in a report on Monday, April 11th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $69.52.
The stock’s market capitalization is $2.53 billion. The company’s 50-day moving average is $56.92 and its 200 day moving average is $55.88.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Friday, May 6th. The company reported ($1.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $1.61. The firm had revenue of $90.80 million for the quarter, compared to the consensus estimate of $151.14 million. During the same period in the prior year, the company posted $0.19 EPS. PDC Energy’s revenue was down 37.2% compared to the same quarter last year. On average, equities analysts predict that PDC Energy Inc. will post ($0.52) earnings per share for the current fiscal year.
In other news, Director James M. Trimble sold 105,881 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $60.32, for a total value of $6,386,741.92. Following the completion of the sale, the director now owns 132,760 shares in the company, valued at $8,008,083.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $61.41, for a total transaction of $92,115.00. Following the completion of the sale, the director now owns 18,637 shares of the company’s stock, valued at approximately $1,144,498.17. The disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of PDCE. BNP Paribas Arbitrage SA increased its stake in PDC Energy by 74.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 18,804 shares of the company’s stock worth $1,004,000 after buying an additional 8,006 shares during the period. Marshall Wace LLP increased its stake in PDC Energy by 56.9% in the fourth quarter. Marshall Wace LLP now owns 34,185 shares of the company’s stock worth $1,825,000 after buying an additional 12,402 shares during the period. Sei Investments Co. increased its stake in PDC Energy by 1.2% in the fourth quarter. Sei Investments Co. now owns 46,357 shares of the company’s stock worth $2,475,000 after buying an additional 557 shares during the period. Morgan Stanley increased its stake in PDC Energy by 179.7% in the fourth quarter. Morgan Stanley now owns 47,517 shares of the company’s stock worth $2,536,000 after buying an additional 30,526 shares during the period. Finally, Nationwide Fund Advisors increased its stake in PDC Energy by 73.1% in the fourth quarter. Nationwide Fund Advisors now owns 52,066 shares of the company’s stock worth $2,779,000 after buying an additional 21,986 shares during the period.
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.
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