Shares of PDC Energy Inc. (NASDAQ:PDCE) rose 4.6% on Tuesday . The company traded as high as $59.41 and last traded at $58.10, with a volume of 1,282,464 shares trading hands. The stock had previously closed at $55.54.

PDCE has been the topic of a number of analyst reports. Zacks Investment Research upgraded PDC Energy from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Saturday, July 23rd. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of PDC Energy in a research report on Wednesday, June 8th. Scotiabank reiterated a “sector outperform” rating and issued a $80.00 price target (up from $75.00) on shares of PDC Energy in a research report on Monday, April 11th. Nomura initiated coverage on PDC Energy in a research report on Wednesday, April 13th. They issued a “neutral” rating and a $66.00 price target on the stock. Finally, Wells Fargo & Co. reiterated a “market perform” rating on shares of PDC Energy in a research report on Wednesday, July 6th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.00.

The company’s 50 day moving average is $54.78 and its 200-day moving average is $56.00. The stock’s market cap is $2.69 billion.

PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.05. The firm earned $20.10 million during the quarter, compared to the consensus estimate of $160.18 million. The company’s revenue for the quarter was down 60.6% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. On average, equities analysts expect that PDC Energy Inc. will post ($0.37) earnings per share for the current fiscal year.

In other news, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $61.41, for a total value of $92,115.00. Following the completion of the sale, the director now owns 18,637 shares of the company’s stock, valued at $1,144,498.17. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David C. Parke sold 500 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $61.26, for a total value of $30,630.00. Following the completion of the sale, the director now directly owns 19,526 shares of the company’s stock, valued at approximately $1,196,162.76. The disclosure for this sale can be found here.

Other large investors recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of PDC Energy by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 437,019 shares of the company’s stock valued at $23,328,000 after buying an additional 15,589 shares during the last quarter. UBS Oconnor LLC bought a new stake in shares of PDC Energy during the fourth quarter valued at $4,575,000. Schroder Investment Management Group boosted its stake in shares of PDC Energy by 20.8% in the fourth quarter. Schroder Investment Management Group now owns 649,200 shares of the company’s stock valued at $34,654,000 after buying an additional 111,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PDC Energy by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,236,419 shares of the company’s stock valued at $172,761,000 after buying an additional 124,024 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of PDC Energy by 74.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 18,804 shares of the company’s stock valued at $1,004,000 after buying an additional 8,006 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.