PDC Energy Inc (NASDAQ:PDCE) traded up 6.2% during trading on Wednesday . The stock traded as high as $22.45 and last traded at $22.38, 1,866,203 shares changed hands during trading. An increase of 42% from the average session volume of 1,309,977 shares. The stock had previously closed at $21.08.
Several equities research analysts have recently commented on the stock. Mitsubishi UFJ Financial Group upped their price target on shares of PDC Energy to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Barclays assumed coverage on shares of PDC Energy in a research report on Friday, August 30th. They set an “overweight” rating and a $42.00 price target for the company. BidaskClub lowered shares of PDC Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 9th. TD Securities upped their price target on shares of PDC Energy from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Wolfe Research upgraded PDC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $49.59.
The stock has a 50 day moving average of $27.98 and a 200-day moving average of $32.50. The company has a market capitalization of $1.31 billion, a P/E ratio of -7.56, a P/E/G ratio of 0.64 and a beta of 0.95. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.50.
PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Wednesday, August 7th. The energy producer reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.11). The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $333.78 million. PDC Energy had a net margin of 7.73% and a negative return on equity of 3.08%. The company’s revenue was up 83.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that PDC Energy Inc will post 1.35 EPS for the current fiscal year.
In other PDC Energy news, Director Anthony J. Crisafio sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $35.09, for a total value of $52,635.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PDCE. Nuveen Asset Management LLC bought a new position in PDC Energy in the 2nd quarter worth approximately $13,052,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in PDC Energy in the 2nd quarter worth approximately $4,776,000. GSA Capital Partners LLP bought a new position in PDC Energy in the 2nd quarter worth approximately $4,702,000. First Trust Advisors LP boosted its stake 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 worth $6,524,000 after purchasing an additional 75,864 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in PDC Energy in the 3rd quarter worth approximately $2,090,000.
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.
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