Canaccord Genuity Maintains PDC Energy Inc to Buy with Price Target $77.00

Brokerage firm Canaccord Genuity Maintains its rating on PDC Energy Inc(NASDAQ:PDCE). In a research note issued to the investors, the brokerage major Lowers the price-target to $77.00 per share. The shares have been rated Buy. The rating by Canaccord Genuity was issued on Sep 12, 2016.

In a different note, On Aug 30, 2016, Seaport Global said it Upgrades its rating on PDC Energy Inc. The shares have been rated ‘Buy’ by the firm. Williams Capital Group said it Initiates Coverage on PDC Energy Inc, according to a research note issued on Aug 29, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 25, 2016, Barclays said it Maintains its rating on PDC Energy Inc. In the research note, the firm Raises the price-target to $78.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 24, 2016, iBERIA Capital Partners said it Maintains its rating on PDC Energy Inc. In the research note, the firm Raises the price-target to $83.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 24, 2016, Credit Suisse said it Maintains its rating on PDC Energy Inc. In the research note, the firm Raises the price-target to $81.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 24, 2016, Stephens & Co. said it Upgrades its rating on PDC Energy Inc. The shares have been rated ‘Overweight’ by the firm.

PDC Energy Inc (PDCE) shares turned negative on Tuesdays trading session with the shares closing down -0.86 points or -1.33% at a volume of 8,89,401. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $65.13. The peak price level was also seen at $65.13 while the days lowest was $63.52. Finally the shares closed at $64. The 52-week high of the shares is $71 while the 52-week low is $42.675. According to the latest information available, the market cap of the company is $3,018 M.

PDC Energy Inc(PDCE) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $20.10M. Analysts had an estimated revenue of $160.00M. Earnings per share were $-0.11. Analysts had estimated an EPS of $-0.06.

Several Insider Transactions has been reported to the SEC. On Aug 16, 2016, David C Parke (director) sold 500 shares at $61.84 per share price.Also, 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.

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