PDC Energy (NASDAQ:PDCE) PT Raised to $51.00 at KeyCorp

PDC Energy (NASDAQ:PDCE) had its price target raised by KeyCorp from $49.00 to $51.00 in a research note published on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the energy producer’s stock.

Several other equities analysts have also recently weighed in on PDCE. Wells Fargo & Company raised their price objective on PDC Energy from $51.00 to $54.00 and gave the company an overweight rating in a report on Wednesday, May 19th. JPMorgan Chase & Co. raised their target price on shares of PDC Energy from $30.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, February 25th. They noted that the move was a valuation call. Seaport Global Securities reiterated a buy rating on shares of PDC Energy in a research note on Monday, April 5th. TheStreet upgraded shares of PDC Energy from a d+ rating to a c- rating in a research note on Tuesday, March 16th. Finally, TD Securities raised their target price on shares of PDC Energy from $46.00 to $48.00 and gave the company a buy rating in a research note on Friday, May 7th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $33.08.

Shares of NASDAQ PDCE opened at $47.18 on Thursday. The company has a market cap of $4.59 billion, a PE ratio of -17.47 and a beta of 3.41. The firm has a 50-day moving average of $39.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. PDC Energy has a fifty-two week low of $10.60 and a fifty-two week high of $47.99.

PDC Energy (NASDAQ:PDCE) last announced its quarterly earnings data on Wednesday, May 5th. The energy producer reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.58. The company had revenue of $286.04 million during the quarter, compared to analysts’ expectations of $396.93 million. PDC Energy had a positive return on equity of 14.11% and a negative net margin of 30.91%. On average, sell-side analysts anticipate that PDC Energy will post 4.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, June 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%.

In other news, Director Randy S. Nickerson sold 7,298 shares of the firm’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $41.55, for a total transaction of $303,231.90. Following the transaction, the director now directly owns 14,479 shares of the company’s stock, valued at $601,602.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn A. Peterson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 9th. The stock was sold at an average price of $46.65, for a total transaction of $233,250.00. Following the transaction, the director now directly owns 225,377 shares in the company, valued at $10,513,837.05. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its stake in PDC Energy by 142.1% in the first quarter. Parkside Financial Bank & Trust now owns 925 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 543 shares during the last quarter. Keybank National Association OH increased its stake in PDC Energy by 2.1% in the first quarter. Keybank National Association OH now owns 29,250 shares of the energy producer’s stock valued at $1,006,000 after acquiring an additional 600 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in PDC Energy by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 26,998 shares of the energy producer’s stock valued at $929,000 after acquiring an additional 798 shares during the last quarter. The PNC Financial Services Group Inc. increased its stake in PDC Energy by 13.6% in the first quarter. The PNC Financial Services Group Inc. now owns 7,153 shares of the energy producer’s stock valued at $246,000 after acquiring an additional 855 shares during the last quarter. Finally, Arlington Partners LLC bought a new position in PDC Energy in the first quarter valued at approximately $33,000.

About PDC Energy

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.

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Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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