.png "PDC Energy (NASDAQ: PDCE)")
Jefferies analyst Mark Lear reiterated a Buy rating on PDC Energy (NASDAQ: PDCE) today and set a price target of $86. The company’s shares closed yesterday at $59.71.
According to TipRanks.com, Lear is a 3-star analyst with an average return of 1.8% and a 50.6% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Jagged Peak Energy Inc, and Whiting Petroleum Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for PDC Energy with a $75.67 average price target, implying a 26.7% upside from current levels. In a report issued on July 5, TD Securities also initiated coverage with a Buy rating on the stock with a $80 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 $41.25 million.
Based on the recent corporate insider activity of 51 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.
