PDC Energy (NASDAQ:PDCE) Rating
JP Morgan currently has a $65.00 price target on the $2.50 billion market cap company or 16.22% upside potential. In analysts report issued to investors and clients on Tuesday, 15 March, PDC Energy (NASDAQ:PDCE) stock had its Overweight Rating reaffirmed by stock analysts at JP Morgan.
Out of 28 analysts covering PDC Energy (NASDAQ:PDCE), 24 rate it “Buy”, 0 “Sell”, while 5 “Hold”. This means 83% are positive. $80 is the highest target while $56 is the lowest. The $66.43 average target is 25.59% above today’s ($55.93) stock price. PDC Energy was the topic in 27 analyst reports since August 10, 2015 according to StockzIntelligence Inc. iBERIA Capital Partners maintained the stock on March 9 with “Outperform” rating. BMO Capital Markets maintained it with “Outperform” rating and $72 target price in an August 11 report. RBC Capital Markets maintained the shares of PDCE in a report on November 6 with “Outperform” rating. MLV maintained the firm’s rating on August 10. MLV has “Buy” rating and $65.0 price target. Finally, Cantor Fitzgerald maintained the stock with “Buy” rating in an August 11 report.
The stock increased 0.47% or $0.26 during the last trading session, hitting $55.93. About 787,651 shares traded hands. PDC Energy Inc (NASDAQ:PDCE) has risen 18.78% since August 7, 2015 and is uptrending. It has outperformed by 21.56% the S&P500.
The institutional sentiment decreased to 1 in 2015 Q3. Its down 0.50, from 1.5 in 2015Q2. The ratio dived, as 44 funds sold all PDC Energy Inc shares owned while 82 reduced positions. 31 funds bought stakes while 95 increased positions. They now own 45.99 million shares or 1.06% less from 46.48 million shares in 2015Q2.
Brenham Capital Management L.P. holds 11.97% of its portfolio in PDC Energy Inc for 1.05 million shares. Caymus Capital Partners L.P. owns 554,000 shares or 5.95% of their US portfolio. Moreover, Delta Partners Llc has 3.88% invested in the company for 46,535 shares. The United Kingdom-based Alta Advisers Ltd has invested 3.84% in the stock. Mitchell Group Inc, a Texas-based fund reported 540,283 shares.
PDC Energy Inc. is a domestic independent exploration and production Company, which produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids . The company has a market cap of $2.50 billion. The Firm operates in two divisions: Oil and Gas Exploration and Production, and Gas Marketing. It currently has negative earnings. The Company’s Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil, natural gas and NGLs, commodity price risk management, net, and well activities and pipeline income.
According to Zacks Investment Research, “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.”
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