KeyBanc analyst David Deckelbaum maintained a Buy rating on PDC Energy (NASDAQ: PDCE) today and set a price target of $70. The company’s shares closed yesterday at $64.31, close to its 52-week high of $66.20.
According to TipRanks.com, Deckelbaum has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.5% and a 35.1% success rate. Deckelbaum covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Gulfport Energy Corp, and Oasis Petroleum Inc.
Currently, the analyst consensus on PDC Energy is Strong Buy and the average price target is $71, representing a 10.4% upside.
In a report issued on May 14, Johnson Rice also upgraded the stock to Buy with a $67 price target.
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Based on PDC Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $13.14 million. In comparison, last year the company had a net profit of $46.15 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
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PDC Energy, Inc. engages in the exploration and production of oil and natural gas. It acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
