PDC Energy (NASDAQ:PDCE) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on Jun 25th, 2023

Analysts at StockNews.com began coverage on shares of PDC Energy (NASDAQ:PDCE – Get Rating) in a report issued on Sunday. The firm set a “hold” rating on the energy producer’s stock.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of PDC Energy from $76.00 to $80.00 in a report on Thursday, April 6th. Mizuho downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th. The Goldman Sachs Group boosted their price objective on shares of PDC Energy from $65.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, April 21st. Truist Financial boosted their price objective on shares of PDC Energy from $70.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, Seaport Res Ptn raised shares of PDC Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

PDC Energy Stock Down 0.7 %

PDC Energy stock opened at $68.34 on Friday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 0.15 and a beta of 2.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.43 and a quick ratio of 0.43. PDC Energy has a fifty-two week low of $51.72 and a fifty-two week high of $82.24. The firm has a fifty day moving average price of $67.37 and a two-hundred day moving average price of $65.72.

PDC Energy (NASDAQ:PDCE – Get Rating) last released its earnings results on Wednesday, May 3rd. The energy producer reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.91 by ($0.30). The firm had revenue of $957.67 million for the quarter, compared to analyst estimates of $776.86 million. PDC Energy had a return on equity of 35.66% and a net margin of 49.57%. As a group, analysts forecast that PDC Energy will post 12.76 earnings per share for the current year.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CFO R Scott Meyers sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $70.94, for a total value of $177,350.00. Following the transaction, the chief financial officer now directly owns 157,410 shares in the company, valued at $11,166,665.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO R Scott Meyers sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $70.94, for a total transaction of $177,350.00. Following the transaction, the chief financial officer now directly owns 157,410 shares in the company, valued at $11,166,665.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $68.71, for a total transaction of $137,420.00. Following the transaction, the chief executive officer now owns 544,070 shares in the company, valued at $37,383,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 21,700 shares of company stock worth $1,467,429 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On PDC Energy

Large investors have recently modified their holdings of the stock. Natixis acquired a new position in shares of PDC Energy during the fourth quarter worth approximately $25,000. U.S. Capital Wealth Advisors LLC acquired a new position in PDC Energy in the fourth quarter valued at approximately $26,000. Belpointe Asset Management LLC acquired a new position in PDC Energy in the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. lifted its holdings in PDC Energy by 129.5% in the first quarter. Geneos Wealth Management Inc. now owns 443 shares of the energy producer’s stock valued at $32,000 after buying an additional 250 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in PDC Energy by 2,600.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 459 shares of the energy producer’s stock valued at $29,000 after buying an additional 442 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

PDC Energy Company Profile

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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. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.