Weekly Research Analysts’ Ratings Changes for PDC Energy (PDCE)

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A number of research firms have changed their ratings and price targets for PDC Energy (NASDAQ: PDCE):

9/12/2016 – PDC Energy had its price target lowered by analysts at Wunderlich from $78.00 to $76.00. They now have a “buy” rating on the stock.
9/12/2016 – PDC Energy had its “buy” rating reaffirmed by analysts at KLR Group. They now have a $80.00 price target on the stock, down previously from $87.00.
9/12/2016 – PDC Energy had its price target lowered by analysts at Canaccord Genuity from $80.00 to $77.00. They now have a “buy” rating on the stock.
9/11/2016 – PDC Energy had its “hold” rating reaffirmed by analysts at Wells Fargo & Co..
9/2/2016 – PDC Energy had its price target raised by analysts at Stifel Nicolaus from $70.00 to $80.00. They now have a “buy” rating on the stock.
8/30/2016 – PDC Energy was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating. They now have a $87.00 price target on the stock, up previously from $61.00.
8/29/2016 – PDC Energy is now covered by analysts at Williams Capital. They set a “buy” rating and a $84.00 price target on the stock. They wrote, “At this early stage, PDCE has conservatively identified 710 drilling locations, which lends itself to 15–20 years of inventory at initial drilling plans. Ultimately, this acreage position has the potential for over 3,200 gross locations across the Wolfcamp and Bone Spring zones,”
8/29/2016 – PDC Energy was given a new $80.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
8/25/2016 – PDC Energy had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $83.00 price target on the stock.
8/25/2016 – PDC Energy had its price target raised by analysts at Wunderlich from $76.00 to $78.00. They now have a “buy” rating on the stock.
8/25/2016 – PDC Energy had its price target raised by analysts at Barclays PLC from $78.00 to $80.00. They now have an “overweight” rating on the stock.
8/24/2016 – PDC Energy had its price target raised by analysts at KeyCorp to $76.00.
8/24/2016 – PDC Energy was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating.
8/24/2016 – PDC Energy had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $76.00 price target on the stock.
8/23/2016 – PDC Energy had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $72.00 price target on the stock.
8/11/2016 – PDC Energy had its “outperform” rating reaffirmed by analysts at RBC Capital Markets. They now have a $70.00 price target on the stock, up previously from $67.00.
8/10/2016 – PDC Energy had its price target raised by analysts at Royal Bank Of Canada from $67.00 to $70.00. They now have an “outperform” rating on the stock.
8/10/2016 – PDC Energy had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG.
8/10/2016 – PDC Energy had its price target raised by analysts at Barclays PLC from $74.00 to $78.00. They now have an “overweight” rating on the stock.
8/8/2016 – PDC Energy was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $58.00 price target on the stock.
8/3/2016 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
7/27/2016 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
7/23/2016 – PDC Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $58.00 price target on the stock. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “
7/21/2016 – PDC Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado. “

PDC Energy Inc. (NASDAQ:PDCE) opened at 63.50 on Thursday. PDC Energy Inc. has a 52-week low of $42.68 and a 52-week high of $71.00. The firm’s market cap is $2.96 billion. The company’s 50 day moving average is $61.65 and its 200-day moving average is $58.70.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.05. The company earned $20.10 million during the quarter, compared to analysts’ expectations of $160.18 million. PDC Energy had a negative net margin of 40.23% and a negative return on equity of 1.07%. The company’s revenue for the quarter was down 60.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts predict that PDC Energy Inc. will post ($0.36) EPS for the current fiscal year.

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In related news, Director David C. Parke sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $61.84, for a total value of $30,920.00. Following the sale, the director now directly owns 17,717 shares of the company’s stock, valued at $1,095,619.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.
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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