PDC Energy Inc (PDCE) is Upgraded by Seaport Global Securities to Buy

PDC Energy Inc (PDCE) was Upgraded by Seaport Global Securities to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on PDC Energy Inc. Williams Capital Group Initiated PDC Energy Inc on Aug 29, 2016 to “Buy”, Price Target of the shares are set at $84.Company shares were Reiterated by Wunderlich on Aug 25, 2016 to “Buy”, Firm has raised the Price Target to $ 78 from a previous price target of $76 .Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

On the company’s financial health, PDC Energy Inc reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.04. The company had revenue of $20.10 million for the quarter, compared to analysts expectations of $159.30 million. The company’s revenue was down -60.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

PDC Energy Inc opened for trading at $67.73 and hit $68.99 on the upside on Monday, eventually ending the session at $68.86, with a gain of 2.03% or 1.37 points. The heightened volatility saw the trading volume jump to 19,24,050 shares. Company has a market cap of $3,247 M.

In a different news, on Aug 16, 2016, David C Parke (director) sold 500 shares at $61.84 per share price. According to the SEC, on May 20, 2016, Gysle R. Shellum (CFO) sold 2,438 shares at $63.98 per share price. On May 19, 2016, Kimberly Luff Wakim (director) sold 3,834 shares at $64.02 per share price, according to the Form-4 filing with the securities and exchange commission.

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 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 operations and pipeline income. The Company’s 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 2900 gross producing wells of which 350 are horizontal.

PDC Energy Inc

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