PDC Energy (PDCE) : Analyst Rating Update

PDC Energy (PDCE) : The consensus on PDC Energy (PDCE) based on 19 analyst recommendation on the company stock is 1.68, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 12 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

PDC Energy (PDCE) : 17 investment research analysts covering PDC Energy (PDCE) have an average price target of $71.24 for the near short term. The highest target price given by the Brokerage Firm to the stock is $80 and the lowest target is $61 for the short term. Analysts expect the variance to be within $4.34 of the average price.

PDC Energy (NASDAQ:PDCE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $56.53 and $55.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $57.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.88, notching a gain of 0.44% for the day. The total traded volume was 710,075 . The stock had closed at $56.63 on the previous day.

Also, In a research note released to the investors, Deutsche Bank maintains its rating on PDC Energy (NASDAQ:PDCE).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank lowers the new price target from $70 per share to $68 per share. The rating by the firm was issued on June 14, 2016. The company shares have rallied 13.99% from its 1 Year high price. On Apr 27, 2016, the shares registered one year high at $65.86 and the one year low was seen on Jul 23, 2015. The 50-Day Moving Average price is $57.52 and the 200 Day Moving Average price is recorded at $55.86.

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 (NGLs). The Company operates in two segments: Oil and Gas Exploration and Production, and Gas Marketing. The Companys 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 operations and pipeline income. The Companys Gas Marketing segment comprises the operating activities of its wholly owned subsidiary, Riley Natural Gas. The Company operates in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. Its operations in the Wattenberg Field are focused on the liquid-rich horizontal Niobrara and Codell plays. It owns an interest in approximately 2,900 gross producing wells, of which 350 are horizontal.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.