In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Buy rating on PDC Energy (PDCE), with a price target of $32.00. The company’s shares closed last Monday at $18.44, close to its 52-week low of $18.14.
According to TipRanks.com, Sorbara has 0 stars on 0-5 star ranking scale with an average return of -21.0% and a 23.5% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Extraction Oil & Gas, Matador Resources, and Concho Resources.
Currently, the analyst consensus on PDC Energy is a Strong Buy with an average price target of $35.50, an 80.8% upside from current levels. In a report issued on February 14, Citigroup also resumed coverage with a Buy rating on the stock with a $35.00 price target.
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PDC Energy’s market cap is currently $1.85B and has a P/E ratio of 8.46. The company has a Price to Book ratio of 0.48.
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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.
