New York: PDC Energy (NASDAQ:PDCE) Stock Has Just Had Its Buy Rating Reiterated by Bank of America. Shares now Have a $71 Target

April 17, 2018 - By Dolores Ford

PDC Energy, Inc. (NASDAQ:PDCE) Logo

Investors sentiment decreased to 1.15 in Q4 2017. Its down 0.45, from 1.6 in 2017Q3. It dropped, as 32 investors sold PDC Energy, Inc. shares while 59 reduced holdings. 27 funds opened positions while 78 raised stakes. 66.20 million shares or 3.37% more from 64.04 million shares in 2017Q3 were reported.

Moreover, Thrivent Financial For Lutherans has 0.01% invested in PDC Energy, Inc. (NASDAQ:PDCE). California-based Schwab Charles Invest Mgmt has invested 0.02% in PDC Energy, Inc. (NASDAQ:PDCE). Virtu Ltd Company reported 13,733 shares. Segall Bryant Hamill Limited Liability Corporation invested 0.12% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). Profund Advsrs Ltd Liability reported 12,893 shares. Rhumbline Advisers reported 162,421 shares. Credit Suisse Ag owns 84,327 shares or 0% of their US portfolio. Parallax Volatility Advisers Limited Partnership, California-based fund reported 10,080 shares. Glenmede Trust Communications Na holds 209,876 shares. Castleark Ltd Company holds 11,000 shares or 0.02% of its portfolio. Riverhead Capital Mngmt Limited Co reported 6,698 shares stake. Illinois-based Columbia Wanger Asset Lc has invested 0.12% in PDC Energy, Inc. (NASDAQ:PDCE). Stifel Fincl owns 17,608 shares. Royal Comml Bank Of Canada stated it has 425 shares. Connor Clark & Lunn Investment Mngmt Limited has invested 0.2% in PDC Energy, Inc. (NASDAQ:PDCE).

Since January 10, 2018, it had 0 buys, and 11 selling transactions for $1.94 million activity. Another trade for 9,114 shares valued at $491,062 was made by Amidon Daniel Willson on Friday, March 9. Another trade for 1,500 shares valued at $77,790 was made by BROOKMAN BARTON R JR on Thursday, February 1. Another trade for 4,000 shares valued at $211,120 was sold by PARKE DAVID C. On Tuesday, January 16 SWOVELAND JEFFREY C sold $94,911 worth of PDC Energy, Inc. (NASDAQ:PDCE) or 1,700 shares. 1,000 shares valued at $55,830 were sold by REASONER SCOTT J on Tuesday, January 16.

PDC Energy (NASDAQ:PDCE) Rating Reaffirmed

PDC Energy (NASDAQ:PDCE) just had their share rating of a ‘Buy’ issued by research analysts at Bank of America, who now has a $71 target price on the $3.64B market cap company or a 28.79 % upside potential. This key information was released in an analyst note on Monday, 16 April.

Investors sentiment decreased to 1.15 in Q4 2017. Its down 0.45, from 1.6 in 2017Q3. It dropped, as 32 investors sold PDC Energy, Inc. shares while 59 reduced holdings. 27 funds opened positions while 78 raised stakes. 66.20 million shares or 3.37% more from 64.04 million shares in 2017Q3 were reported.

Moreover, Thrivent Financial For Lutherans has 0.01% invested in PDC Energy, Inc. (NASDAQ:PDCE). California-based Schwab Charles Invest Mgmt has invested 0.02% in PDC Energy, Inc. (NASDAQ:PDCE). Virtu Ltd Company reported 13,733 shares. Segall Bryant Hamill Limited Liability Corporation invested 0.12% of its portfolio in PDC Energy, Inc. (NASDAQ:PDCE). Profund Advsrs Ltd Liability reported 12,893 shares. Rhumbline Advisers reported 162,421 shares. Credit Suisse Ag owns 84,327 shares or 0% of their US portfolio. Parallax Volatility Advisers Limited Partnership, California-based fund reported 10,080 shares. Glenmede Trust Communications Na holds 209,876 shares. Castleark Ltd Company holds 11,000 shares or 0.02% of its portfolio. Riverhead Capital Mngmt Limited Co reported 6,698 shares stake. Illinois-based Columbia Wanger Asset Lc has invested 0.12% in PDC Energy, Inc. (NASDAQ:PDCE). Stifel Fincl owns 17,608 shares. Royal Comml Bank Of Canada stated it has 425 shares. Connor Clark & Lunn Investment Mngmt Limited has invested 0.2% in PDC Energy, Inc. (NASDAQ:PDCE).

Since January 10, 2018, it had 0 buys, and 11 selling transactions for $1.94 million activity. Another trade for 9,114 shares valued at $491,062 was made by Amidon Daniel Willson on Friday, March 9. Another trade for 1,500 shares valued at $77,790 was made by BROOKMAN BARTON R JR on Thursday, February 1. Another trade for 4,000 shares valued at $211,120 was sold by PARKE DAVID C. On Tuesday, January 16 SWOVELAND JEFFREY C sold $94,911 worth of PDC Energy, Inc. (NASDAQ:PDCE) or 1,700 shares. 1,000 shares valued at $55,830 were sold by REASONER SCOTT J on Tuesday, January 16.

PDC Energy, Inc. (NASDAQ:PDCE) Ratings Coverage

Among 17 analysts covering PDC Energy (NASDAQ:PDCE), 15 have Buy rating, 0 Sell and 2 Hold. Therefore 88% are positive. PDC Energy has $9500 highest and $51.0 lowest target. $69.40’s average target is 25.88% above currents $55.13 stock price. PDC Energy had 26 analyst reports since October 29, 2017 according to SRatingsIntel. The rating was maintained by Williams Capital Group on Tuesday, February 27 with “Buy”. Jefferies maintained PDC Energy, Inc. (NASDAQ:PDCE) rating on Monday, March 19. Jefferies has “Buy” rating and $71.0 target. BMO Capital Markets maintained PDC Energy, Inc. (NASDAQ:PDCE) rating on Tuesday, November 14. BMO Capital Markets has “Hold” rating and $55.0 target. The firm earned “Hold” rating on Thursday, January 11 by BMO Capital Markets. Johnson Rice initiated PDC Energy, Inc. (NASDAQ:PDCE) on Wednesday, March 21 with “Buy” rating. On Tuesday, November 7 the stock rating was maintained by Stifel Nicolaus with “Buy”. The rating was upgraded by MUFG Securities Americas Inc on Thursday, March 1 to “Buy”. KeyBanc Capital Markets maintained it with “Buy” rating and $65.0 target in Sunday, January 21 report. As per Monday, April 16, the company rating was maintained by Bank of America. The company was maintained on Wednesday, December 13 by Stifel Nicolaus.

The stock increased 1.70% or $0.92 during the last trading session, reaching $55.13. About 223,581 shares traded. PDC Energy, Inc. (NASDAQ:PDCE) has declined 20.05% since April 17, 2017 and is downtrending. It has underperformed by 31.60% the S&P500.

Analysts await PDC Energy, Inc. (NASDAQ:PDCE) to report earnings on May, 4. They expect $0.41 earnings per share, up 783.33 % or $0.47 from last year’s $-0.06 per share. PDCE’s profit will be $27.05M for 33.62 P/E if the $0.41 EPS becomes a reality. After $0.24 actual earnings per share reported by PDC Energy, Inc. for the previous quarter, Wall Street now forecasts 70.83 % EPS growth.

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 has market cap of $3.64 billion. It operates through two divisions, Oil and Gas Exploration and Production, and Gas Marketing. It currently has negative earnings. The Oil and Gas Exploration and Production segment produces and sells natural gas and natural gas liquids to midstream service providers and marketers; and crude oil.

PDC Energy, Inc. (NASDAQ:PDCE) Institutional Positions Chart

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