Analyst Price Target Update on PDC Energy (NASDAQ:PDCE)

PDC Energy (NASDAQ:PDCE): The mean estimate for the short term price target for PDC Energy (NASDAQ:PDCE) stands at $71.35 according to 17 Analysts. The higher price target estimate for the stock has been calculated at $80 while the lower price target estimate is at $61.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Wells Fargo, downgrades their rating on the shares of PDC Energy (NASDAQ:PDCE). Wells Fargo has a Market Perform rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on May 23, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities,The officer (CFO) of Pdc Energy, Inc., Shellum Gysle R. sold 2,438 shares at $63.98 on May 17, 2016. The Insider selling transaction had a total value worth of $155,983. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

PDC Energy (NASDAQ:PDCE) stock ended Monday session in the red zone in a volatile trading. The stock closed down 1.34 points or 2.38% at $54.99 with 1,372,009 shares getting traded. Post opening the session at $55.81, the shares hit an intraday low of $54.625 and an intraday high of $56.35 and the price was in this range throughout the day. The company has a market cap of $2,547 million and the number of outstanding shares have been calculated to be 46,318,394 shares. The 52-week high of PDC Energy (NASDAQ:PDCE) is $65.86 and the 52-week low is $41.17.

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.

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