Investment analysts at Wunderlich hoisted their price objective on shares of PDC Energy (NASDAQ:PDCE) from $67.00 to $70.00 in a note issued to investors on Wednesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Wunderlich’s target price indicates a potential upside of 30.87% from the stock’s previous close.
Shares of PDC Energy (NASDAQ: PDCE) traded down 2.97% during mid-day trading on Wednesday, hitting $53.49. PDC Energy has a 52 week low of $23.27 and a 52 week high of $57.71. The stock’s 50-day moving average is currently $53.29. The company’s market cap is $1.585 billion.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($1.30) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $1.50. The company had revenue of $71.82 million for the quarter, compared to the consensus estimate of $94.27 million. The company’s quarterly revenue was down 21.1% on a year-over-year basis.
A number of other firms have also recently commented on PDCE. Analysts at Canaccord Genuity initiated coverage on shares of PDC Energy in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at SunTrust downgraded shares of PDC Energy from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 9th. They now have a $58.00 price target on the stock, down previously from $60.00. Finally, analysts at Brean Capital reiterated a “buy” rating on shares of PDC Energy in a research note to investors on Friday, May 24th. They now have a $66.00 price target on the stock.
Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. PDC Energy currently has an average rating of “Buy” and an average target price of $58.63.
PDC Energy, Inc (NASDAQ: PDCE) 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.