PDC Energy Inc. (PDCE) Trading 4.6% Higher
PDC Energy Inc. (NASDAQ:PDCE) traded up 4.6% on Tuesday . The stock 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.
Several equities research analysts recently weighed in on the stock. Canaccord Genuity reiterated a “buy” rating on shares of PDC Energy in a research note on Sunday, May 8th. Zacks Investment Research upgraded shares of PDC Energy from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, July 13th. Deutsche Bank AG reduced their target price on shares of PDC Energy from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, June 14th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of PDC Energy in a research note on Thursday, May 19th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 target price on shares of PDC Energy in a research note on Thursday, April 28th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. PDC Energy has a consensus rating of “Buy” and an average target price of $69.50.
The company’s market capitalization is $2.71 billion. The firm’s 50 day moving average price is $54.97 and its 200 day moving average price is $56.09.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.05. The company had revenue of $20.10 million for the quarter, compared to analyst estimates of $160.18 million. The business’s revenue was down 60.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. On average, equities research analysts expect that PDC Energy Inc. will post ($0.39) EPS for the current year.
In related news, VP Daniel Willson Amidon sold 5,463 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $62.60, for a total value of $341,983.80. Following the transaction, the vice president now owns 71,512 shares in the company, valued at approximately $4,476,651.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kimberly Luff Wakim sold 3,834 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $64.02, for a total transaction of $245,452.68. Following the completion of the transaction, the director now owns 11,182 shares in the company, valued at approximately $715,871.64. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Principal Financial Group Inc. raised its position 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 worth $23,328,000 after buying an additional 15,589 shares during the last quarter. Schroder Investment Management Group raised its position 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 worth $34,654,000 after buying an additional 111,600 shares during the last quarter. UBS Oconnor LLC acquired a new position in shares of PDC Energy during the fourth quarter worth about $4,575,000. Marshall Wace LLP raised its position in shares of 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 last quarter. Finally, BNP Paribas Arbitrage SA raised its position 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 worth $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.
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