PDC Energy Enters Delaware Basin For $1.5 Billion

Stephens upgraded shares of PDC Energy Inc.

Relative strength index (RSI-14) for PDC Energy Inc (NASDAQ:PDCE) is at 82.24.

Equity research firms covering public U.S companies have a workforce of analysts dedicating their time covering the most popular stocks.

Wall Street brokerage firms that regularly cover the stock have provided price targets and recommendations on PDC Energy, Inc. BMO Capital Markets downgraded PDC Energy from an outperform rating to a market perform rating and set a $58.00 price objective for the company.in a research report on Monday, August 8th.

When it comes to the Analysis of a Stock, Price Target plays a vital role. Credit Suisse Group AG reaffirmed a buy rating on shares of PDC Energy in a report on Wednesday, August 10th.

Some buy side analysts are also providing their Analysis on PDC Energy, Inc., where 4 analysts have rated the stock as Strong buy, 16 analysts have given a Buy signal, 8 said it’s a HOLD, 0 reported it as Underperform and 0 analysts rated the stock as Sell. Drilling down, the stock is 30.06% for the past month and 7.24% for the week. The sale was disclosed in a legal filing with the SEC, which is available at this link.

A number of hedge funds have bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of PDC Energy by 13.4% in the first quarter.

These recommendations can be transferred to a standard scale from 1 to 5. The transaction is now scheduled to close in the last quarter of the year, subject to certain customary regulations. Royal Bank of Canada now owns 6,626 shares of the company’s stock valued at $394,000 after buying an additional 6,053 shares during the period.

PDC Energy, Inc. closed its last trading session at $63.62 with the gain of 5.23%.

PDC Energy corporate development and strategy Lance Lauck executive vice-president said: “This acquisition is a significant step towards executing our vision of becoming a premier mid-cap E&P company”. The company has a 50-day moving average of $56.93 and a 200-day moving average of $56.87.

Traders are negative on PDC Energy (PDCE), as it has 9.6% of short positions outstanding compared to its float. The figures for the second quarter of 2015 included the Aroma Chemicals business, which was divested in July 2015 and contributed $11.6 million of sales revenue, EBITDA of $2.3 million and $0.07 of diluted EPS. PDC Energy’s revenue for the quarter was down 60.6% on a year-over-year basis. It now has negative earnings.