PDC Energy, Inc. (PDCE) Given New $64.00 Price Target at Barclays PLC
PDC Energy, Inc. (NASDAQ:PDCE) had its price target raised by Barclays PLC from $63.00 to $64.00 in a research note issued to investors on Monday. The firm currently has an overweight rating on the energy producer’s stock.
Several other equities analysts have also commented on PDCE. BMO Capital Markets set a $55.00 price target on PDC Energy and gave the company a hold rating in a research note on Tuesday, November 14th. Seaport Global Securities upgraded PDC Energy from a neutral rating to a buy rating and upped their price target for the stock from $46.00 to $51.00 in a report on Friday, August 11th. Wolfe Research began coverage on PDC Energy in a report on Tuesday, November 14th. They issued a market perform rating on the stock. Mizuho upgraded PDC Energy from a neutral rating to a buy rating and raised their price target for the stock from $53.00 to $55.00 in a research note on Wednesday, August 9th. Finally, Imperial Capital assumed coverage on PDC Energy in a research report on Friday, August 18th. They set an outperform rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. PDC Energy currently has a consensus rating of Hold and a consensus target price of $69.00.
Shares of PDC Energy (NASDAQ PDCE) traded up $0.19 during trading hours on Monday, reaching $44.22. The company’s stock had a trading volume of 819,200 shares, compared to its average volume of 1,095,467. PDC Energy has a 12 month low of $36.74 and a 12 month high of $84.88. The stock has a market cap of $2,900.00, a PE ratio of 112.90 and a beta of 0.82. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.
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In other PDC Energy news, COO Scott J. Reasoner sold 1,000 shares of PDC Energy stock in a transaction on Monday, October 16th. The shares were sold at an average price of $49.64, for a total value of $49,640.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.91% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in PDC Energy by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 129,684 shares of the energy producer’s stock valued at $5,591,000 after purchasing an additional 10,360 shares during the period. Stevens Capital Management LP bought a new stake in shares of PDC Energy during the 2nd quarter worth approximately $978,000. Tricadia Capital Management LLC bought a new stake in shares of PDC Energy during the 2nd quarter worth approximately $693,000. NJ State Employees Deferred Compensation Plan bought a new position in PDC Energy in the 3rd quarter valued at approximately $883,000. Finally, Moody Aldrich Partners LLC lifted its stake in PDC Energy by 37.9% in the 2nd quarter. Moody Aldrich Partners LLC now owns 7,605 shares of the energy producer’s stock valued at $328,000 after purchasing an additional 2,090 shares during the last quarter.
PDC Energy Company Profile
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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