PDC Energy (NASDAQ:PDCE) Earns Hold Rating from Analysts at StockNews.com

Posted by Defense World Staff on Jul 19th, 2023

Research analysts at StockNews.com assumed coverage on shares of PDC Energy (NASDAQ:PDCE – Get Free Report) in a research note issued on Wednesday. The firm set a “hold” rating on the energy producer’s stock.

PDCE has been the topic of several other research reports. The Goldman Sachs Group upped their target price on PDC Energy from $65.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, April 21st. Mizuho lowered PDC Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, May 24th. Truist Financial lifted their price objective on shares of PDC Energy from $70.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. JPMorgan Chase & Co. upped their target price on PDC Energy from $76.00 to $80.00 in a research note on Thursday, April 6th. Finally, Seaport Res Ptn raised shares of PDC Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.40.

PDC Energy Stock Up 0.2 %

NASDAQ:PDCE opened at $71.26 on Wednesday. PDC Energy has a 1 year low of $51.85 and a 1 year high of $82.24. The stock has a 50-day moving average price of $69.67 and a two-hundred day moving average price of $66.63. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 3.04, a PEG ratio of 0.15 and a beta of 2.47. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.31.

PDC Energy (NASDAQ:PDCE – Get Free Report) last released its quarterly 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, equities analysts expect that PDC Energy will post 12.77 earnings per share for the current year.

Insider Buying and Selling at PDC Energy

In other PDC Energy news, CAO Troy M. Welling sold 1,200 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $63.37, for a total value of $76,044.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,269 shares of the company’s stock, valued at approximately $840,856.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Troy M. Welling sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $63.37, for a total value of $76,044.00. Following the completion of the sale, the chief accounting officer now directly owns 13,269 shares in the company, valued at approximately $840,856.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Barton R. Brookman, Jr. sold 2,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $63.84, for a total value of $127,680.00. Following the sale, the chief executive officer now directly owns 546,070 shares of the company’s stock, valued at approximately $34,861,108.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,200 shares of company stock valued at $676,119. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On PDC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDCE. Louisiana State Employees Retirement System increased its stake in PDC Energy by 4.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,500 shares of the energy producer’s stock worth $1,814,000 after buying an additional 1,100 shares in the last quarter. J2 Capital Management Inc increased its holdings in shares of PDC Energy by 3.5% in the 2nd quarter. J2 Capital Management Inc now owns 5,621 shares of the energy producer’s stock worth $400,000 after buying an additional 190 shares during the last quarter. New Mexico Educational Retirement Board raised its position in PDC Energy by 12.6% during the second quarter. New Mexico Educational Retirement Board now owns 18,800 shares of the energy producer’s stock valued at $1,337,000 after purchasing an additional 2,100 shares during the period. Impact Partnership Wealth LLC purchased a new stake in PDC Energy during the 2nd quarter valued at $50,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in PDC Energy in the second quarter worth $304,000. Hedge funds and other institutional investors own 95.18% of the company’s stock.

PDC Energy Company Profile

(Get Free Report)

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.