PDC Energy (PDCE) Received its Third Buy in a Row

After Barclays and Williams Capital gave PDC Energy (NASDAQ: PDCE) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Gordon Douthat maintained a Buy rating on PDC Energy today and set a price target of $51.00. The company’s shares closed last Monday at $25.44.

According to TipRanks.com, Douthat is a 1-star analyst with an average return of -5.8% and a 31.0% success rate. Douthat covers the Basic Materials sector, focusing on stocks such as Black Stone Minerals, Extraction Oil & Gas, and Carrizo Oil & Gas.

PDC Energy has an analyst consensus of Strong Buy, with a price target consensus of $46.00, which is an 83.0% upside from current levels. In a report issued on November 7, Williams Capital also reiterated a Buy rating on the stock with a $42.00 price target.

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The company has a one-year high of $47.29 and a one-year low of $19.57. Currently, PDC Energy has an average volume of 1.58M.

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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.

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