Jefferies Group LLC initiated coverage on shares of PDC Energy Inc (NASDAQ:PDCE) in a research report report published on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 price objective on the energy producer’s stock. Jefferies Group also issued estimates for PDC Energy’s Q1 2018 earnings at ($0.11) EPS, Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at $0.02 EPS, Q4 2018 earnings at $0.07 EPS, FY2018 earnings at ($0.09) EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.50 EPS and FY2019 earnings at $2.00 EPS.
PDCE has been the topic of a number of other research reports. Stifel Nicolaus set a $69.00 price target on shares of PDC Energy and gave the company a buy rating in a research report on Thursday, October 5th. BidaskClub lowered shares of PDC Energy from a sell rating to a strong sell rating in a research report on Thursday, June 29th. BMO Capital Markets reissued a hold rating and issued a $48.00 price target on shares of PDC Energy in a research report on Friday, September 1st. Seaport Global Securities lowered shares of PDC Energy from a buy rating to a neutral rating and dropped their price target for the company from $89.00 to $46.00 in a research report on Wednesday, June 21st. Finally, Bank of America Corporation initiated coverage on shares of PDC Energy in a research report on Wednesday, July 19th. They issued a buy rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $69.73.
PDC Energy (PDCE) opened at 50.38 on Monday. PDC Energy has a 52 week low of $36.74 and a 52 week high of $84.88. The stock has a 50 day moving average of $44.45 and a 200 day moving average of $48.39. The stock has a market capitalization of $3.29 billion, a P/E ratio of 357.30 and a beta of 0.84.
PDC Energy (NASDAQ:PDCE) last released its quarterly earnings results on Tuesday, August 8th. The energy producer reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.20. PDC Energy had a net margin of 14.99% and a return on equity of 6.14%. The company had revenue of $275.20 million for the quarter, compared to analyst estimates of $218.90 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 1269.2% compared to the same quarter last year. On average, equities research analysts predict that PDC Energy will post $0.21 earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of PDCE. BlackRock Inc. boosted its stake in shares of PDC Energy by 47,702.8% in the 1st quarter. BlackRock Inc. now owns 6,890,772 shares of the energy producer’s stock valued at $429,640,000 after purchasing an additional 6,876,357 shares in the last quarter. UBS Group AG boosted its stake in shares of PDC Energy by 101.1% in the 1st quarter. UBS Group AG now owns 14,621 shares of the energy producer’s stock valued at $912,000 after purchasing an additional 1,395,552 shares in the last quarter. Causeway Capital Management LLC boosted its stake in shares of PDC Energy by 54.1% in the 1st quarter. Causeway Capital Management LLC now owns 3,287,928 shares of the energy producer’s stock valued at $234,496,000 after purchasing an additional 1,154,136 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PDC Energy by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,422 shares of the energy producer’s stock valued at $244,797,000 after purchasing an additional 677,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of PDC Energy by 17.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,385,502 shares of the energy producer’s stock valued at $211,083,000 after purchasing an additional 501,484 shares in the last quarter.
About PDC Energy
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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