PDC Energy Inc. (PDCE) Shares Down 0.2%
PDC Energy Inc. (NASDAQ:PDCE) traded down 0.2% on Friday . The stock traded as low as $55.03 and last traded at $55.38, with a volume of 854,565 shares changing hands. The stock had previously closed at $55.48.
Several equities research analysts recently weighed in on the company. Deutsche Bank AG restated a “hold” rating on shares of PDC Energy in a report on Saturday, March 12th. BMO Capital Markets restated a “buy” rating on shares of PDC Energy in a report on Saturday, April 9th. Credit Suisse Group AG restated an “outperform” rating and set a $81.00 target price (up from $80.00) on shares of PDC Energy in a report on Sunday, April 10th. Cantor Fitzgerald restated a “buy” rating and set a $68.00 target price on shares of PDC Energy in a report on Thursday, April 28th. Finally, Canaccord Genuity restated a “buy” rating on shares of PDC Energy in a report on Sunday, May 8th. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.52.
The stock has a 50-day moving average price of $56.92 and a 200-day moving average price of $55.88. The stock’s market cap is $2.53 billion.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Friday, May 6th. The company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $1.61. The company had revenue of $90.80 million for the quarter, compared to the consensus estimate of $151.14 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was down 37.2% compared to the same quarter last year. Analysts predict that PDC Energy Inc. will post ($0.52) earnings per share for the current year.
In related news, Director Kimberly Luff Wakim sold 3,834 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $64.02, for a total value of $245,452.68. Following the completion of the transaction, the director now owns 11,182 shares of the company’s stock, valued at $715,871.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gysle R. Shellum sold 2,438 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $63.98, for a total transaction of $155,983.24. Following the completion of the transaction, the chief financial officer now directly owns 14,155 shares of the company’s stock, valued at approximately $905,636.90. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of PDCE. Marshall Wace LLP increased 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 period. UBS Oconnor LLC acquired a new position in shares of PDC Energy during the fourth quarter worth approximately $4,575,000. Schroder Investment Management Group increased 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 period. Principal Financial Group Inc. increased 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 period. Finally, Morgan Stanley increased its position in shares of 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.
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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