Shares of PDC Energy Inc (NASDAQ:PDCE) hit a new 52-week low during trading on Monday . The stock traded as low as $23.90 and last traded at $23.90, with a volume of 3595 shares changing hands. The stock had previously closed at $25.17.
Several analysts recently commented on the company. Zacks Investment Research upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 19th. ValuEngine upgraded PDC Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks upped their target price on PDC Energy from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. BMO Capital Markets cut PDC Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $50.00 to $38.00 in a report on Thursday, July 11th. Finally, MKM Partners upped their target price on PDC Energy from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $49.65.
The stock has a market capitalization of $1.55 billion, a P/E ratio of -8.18, a PEG ratio of 0.66 and a beta of 0.95. The business has a fifty day simple moving average of $29.52 and a 200-day simple moving average of $33.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 0.65.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings results on Wednesday, August 7th. The energy producer reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.11). The business had revenue of $390.70 million for the quarter, compared to the consensus estimate of $333.78 million. PDC Energy had a negative return on equity of 3.08% and a net margin of 7.73%. PDC Energy’s quarterly revenue was up 83.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, sell-side analysts anticipate that PDC Energy Inc will post 1.42 earnings per share for the current year.
In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $35.09, for a total transaction of $52,635.00. Following the transaction, the director now directly owns 22,130 shares in the company, valued at approximately $776,541.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of PDCE. First Trust Advisors LP raised its position in PDC Energy by 72.2% in the 2nd quarter. First Trust Advisors LP now owns 180,909 shares of the energy producer’s stock valued at $6,524,000 after buying an additional 75,864 shares during the last quarter. Aperio Group LLC increased its position in shares of PDC Energy by 16.0% during the 2nd quarter. Aperio Group LLC now owns 21,707 shares of the energy producer’s stock valued at $783,000 after purchasing an additional 2,990 shares during the last quarter. Arizona State Retirement System increased its position in shares of PDC Energy by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 102,819 shares of the energy producer’s stock valued at $3,708,000 after purchasing an additional 777 shares during the last quarter. SCP Investment LP increased its position in shares of PDC Energy by 35.0% during the 2nd quarter. SCP Investment LP now owns 54,000 shares of the energy producer’s stock valued at $1,947,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of PDC Energy during the 2nd quarter valued at $13,052,000.
About PDC Energy (NASDAQ:PDCE)
PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. Its operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas. The company was formerly known as Petroleum Development Corporation and changed its name to PDC Energy, Inc in June 2012.
Further Reading: Net Income
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