Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on PDC Energy (NASDAQ: PDCE) today and set a price target of $82. The company’s shares closed yesterday at $55.04.
According to TipRanks.com, Sorbara is a 3-star analyst with an average return of 1.8% 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.
PDC Energy has an analyst consensus of Moderate Buy, with a price target consensus of $73.82, implying a 34.1% upside from current levels. In a report issued on July 25, Stephens also reiterated a Buy rating on the stock with a $78 price target.
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Based on PDC Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $160 million. In comparison, last year the company had a net profit of $41.25 million.
Based on the recent corporate insider activity of 52 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.
