Nomura Holdings Reiterates a Hold Rating on PDC Energy

By Ryan Adsit

In a report released today, Lloyd Byrne from Nomura Holdings reiterated a Hold rating on PDC Energy (NASDAQ: PDCE), with a price target of $66. The company’s shares opened today at $63.17.

According to TipRanks.com, Byrne is a 4-star analyst with an average return of 8.6% and a 62.0% success rate. Byrne covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Parker Drilling Company, and Whiting Petroleum Corp.

PDC Energy has an analyst consensus of Moderate Buy, with a price target consensus of $77.14.

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.