PDC Energy (NASDAQ: PDCE) posted its quarterly earnings results on Wednesday. The company reported ($4.25) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.02) by $4.23. The company had revenue of $108.60 million for the quarter, compared to the consensus estimate of $96.61 million. The company’s quarterly revenue was up 9.3% on a year-over-year basis.
A number of research firms have also recently commented on PDCE. Analysts at Iberia Capital initiated coverage on shares of PDC Energy in a research note to investors on Friday, February 22nd. They set an “outperform” rating on the stock. On the ratings front, analysts at IBERIABANK Co. initiated coverage on shares of PDC Energy in a research note to investors on Friday, February 22nd. They set an “outperform” rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of PDC Energy from $40.00 to $51.00 in a research note to investors on Tuesday, February 12th.
Fourteen investment analysts have rated the stock with a buy rating, one has given an overweight rating, and one has issued a hold rating to the company. The company currently has a consensus rating of “buy” and a consensus target price of $41.29.
PDC Energy (PDCE) opened at 41.71 on Wednesday. PDC Energy (PDCE) has a 1-year low of $19.33 and a 1-year high of $44.43. The stock’s 50-day moving average is currently $39.91. The company’s market cap is $1.233 billion.
PDC Energy, Inc., formerly Petroleum Development Corporation, doing business as PDC Energy, is a domestic independent exploration and production company, which acquires, develops, explores, and produces natural gas, natural gas liquids (NGLs), and crude oil.
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