BMO Capital Reiterates a Hold Rating on PDC Energy

By Austin Angelo

In a report issued on November 4, Dan McSpirit from BMO Capital reiterated a Hold rating on PDC Energy (NASDAQ: PDCE), with a price target of $65. The company’s shares opened today at $63.17.

According to TipRanks.com, McSpirit is a 4-star analyst with an average return of 2.7% and a 53.8% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Rosetta Resources Inc., and Range Resources Corp.

Currently, the analyst consensus on PDC Energy is Moderate Buy and the average price target is $77.14, representing a 22.1% upside.

In a report issued on November 4, Nomura Holdings also reiterated a Hold rating on the stock with a $66 price target.

Based on PDC Energy’s latest earnings report from June 30, the company posted quarterly revenue of $112.9M and quarterly net profit of -$95.45M. In comparison, last year the company earned revenue of $107.6M and had a net profit of -$41.49M.

PDC Energy, Inc. is a natural gas and crude oil company. It operates through the Oil and Gas Exploration, and Production; and Gas Marketing segments. The Oil and Gas Exploration and Production segment engages in the production and sale of natural gas, natural gas liquids and crude oil. The Gas Marketing segment consists of Riley Natural Gas co.’s activities. The company was founded in 1969 and is headquartered in Denver, CO.