PDC Energy Gets a Buy Rating from Williams Capital

In a report released today, Gabriele Sorbara from Williams Capital reiterated a Buy rating on PDC Energy (NASDAQ: PDCE), with a price target of $79. The company’s shares closed yesterday at $55.21.

Sorbara said:

“We expect shares to outperform on the 1Q18 results and update.”

According to TipRanks.com, Sorbara is a 1-star analyst with an average return of 0.0% and a 49.1% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Currently, the analyst consensus on PDC Energy is Strong Buy and the average price target is $73.22, representing a 32.6% upside.

In a report issued on April 23, Stifel Nicolaus also reiterated a Buy rating on the stock with a $91 price target.

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Based on PDC Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $280 million and quarterly net profit of $77.64 million. In comparison, last year the company earned revenue of $193 million and had a net profit of $46.15 million.

Based on the recent corporate insider activity of 42 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.