BidaskClub Downgrades PDC Energy, Inc. (PDCE) to Sell
PDC Energy, Inc. (NASDAQ:PDCE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Several other analysts have also issued reports on PDCE. Williams Capital reiterated a “buy” rating and set a $94.00 price objective on shares of PDC Energy in a report on Monday, April 10th. Zacks Investment Research lowered PDC Energy from a “buy” rating to a “hold” rating in a report on Friday, April 14th. Barclays PLC reiterated a “buy” rating and set a $80.00 price objective (down from $89.00) on shares of PDC Energy in a report on Thursday, April 20th. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price objective on shares of PDC Energy in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $82.00 price objective on shares of PDC Energy in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $74.00.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Friday, May 5th. The energy producer reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. PDC Energy had a negative return on equity of 0.20% and a negative net margin of 22.67%. The firm had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $182.05 million. During the same quarter in the prior year, the business posted ($0.89) earnings per share. PDC Energy’s revenue was up 201.4% on a year-over-year basis.
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Several institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC raised its position in PDC Energy by 19.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,924 shares of the energy producer’s stock worth $792,000 after buying an additional 1,748 shares during the last quarter. Teachers Advisors LLC raised its position in PDC Energy by 22.5% in the fourth quarter. Teachers Advisors LLC now owns 101,701 shares of the energy producer’s stock worth $7,381,000 after buying an additional 18,675 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in PDC Energy during the fourth quarter worth approximately $267,000. Macquarie Group Ltd. raised its position in PDC Energy by 5.1% in the fourth quarter. Macquarie Group Ltd. now owns 343,800 shares of the energy producer’s stock worth $24,953,000 after buying an additional 16,759 shares during the last quarter. Finally, S&CO Inc. raised its position in PDC Energy by 14.7% in the first quarter. S&CO Inc. now owns 5,468 shares of the energy producer’s stock worth $341,000 after buying an additional 700 shares during the last quarter.
About PDC Energy
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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