PDC Energy, Inc. (NASDAQ:PDCE) PT Set at $45.00 by BMO Capital Markets

BMO Capital Markets set a $45.00 price objective on PDC Energy, Inc. (NASDAQ:PDCE) in a research note published on Monday, June 26th. The brokerage currently has a hold rating on the energy producer’s stock.

A number of other research firms have also recently weighed in on PDCE. Scotiabank set a $84.00 price objective on shares of PDC Energy and gave the stock a hold rating in a report on Tuesday, February 28th. Canaccord Genuity set a $85.00 price objective on shares of PDC Energy and gave the stock a buy rating in a report on Tuesday, February 28th. Hilliard Lyons raised shares of PDC Energy from a neutral rating to a buy rating in a report on Wednesday, March 1st. Deutsche Bank AG decreased their target price on shares of PDC Energy from $86.00 to $79.00 and set a hold rating for the company in a research report on Tuesday, March 7th. Finally, Zacks Investment Research upgraded shares of PDC Energy from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Thursday, March 16th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $74.00.

PDC Energy (NASDAQ:PDCE) traded up 4.35% during mid-day trading on Monday, hitting $46.81. 117,352 shares of the stock traded hands. The stock’s market cap is $3.05 billion. The stock has a 50-day moving average price of $44.43 and a 200-day moving average price of $59.14. PDC Energy has a 12 month low of $40.12 and a 12 month high of $84.88.

PDC Energy (NASDAQ:PDCE) last announced its earnings results on Friday, May 5th. The energy producer reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.03. The firm had revenue of $273.70 million during the quarter, compared to analysts’ expectations of $182.05 million. PDC Energy had a negative net margin of 22.67% and a negative return on equity of 0.20%. PDC Energy’s revenue for the quarter was up 201.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.89) earnings per share. On average, equities analysts forecast that PDC Energy will post $0.03 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of the company. Tributary Capital Management LLC raised its stake in shares of PDC Energy by 48.5% in the second quarter. Tributary Capital Management LLC now owns 228,750 shares of the energy producer’s stock worth $9,861,000 after buying an additional 74,679 shares during the period. Miller Howard Investments Inc. NY boosted its position in shares of PDC Energy by 28.0% in the second quarter. Miller Howard Investments Inc. NY now owns 140,663 shares of the energy producer’s stock valued at $6,064,000 after buying an additional 30,768 shares during the period. Dubuque Bank & Trust Co. boosted its position in shares of PDC Energy by 38.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,262 shares of the energy producer’s stock valued at $141,000 after buying an additional 899 shares during the period. Whittier Trust Co. boosted its position in shares of PDC Energy by 2.4% in the second quarter. Whittier Trust Co. now owns 19,775 shares of the energy producer’s stock valued at $852,000 after buying an additional 471 shares during the period. Finally, Gradient Investments LLC boosted its position in PDC Energy by 40.1% in the second quarter. Gradient Investments LLC now owns 16,978 shares of the energy producer’s stock valued at $732,000 after buying an additional 4,858 shares during the last quarter.

PDC Energy Company Profile

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.

Analyst Recommendations for PDC Energy (NASDAQ:PDCE)

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