PDC Energy Receives a Buy from Barclays

By Austin Angelo

In a report released yesterday, Jeffrey Robertson from Barclays maintained a Buy rating on PDC Energy (NASDAQ: PDCE), with a price target of $80. The company’s shares opened today at $57.31.

According to TipRanks.com, Robertson is a 4-star analyst with an average return of 3.3% and a 46.4% success rate. Robertson covers the Basic Materials sector, focusing on stocks such as Quicksilver Resources Inc, Whiting Petroleum Corp, and Gulfport Energy Corp.

Currently, the analyst consensus on PDC Energy is Moderate Buy and the average price target is $75, representing a 30.9% upside.

In a report issued on April 10, Williams Capital also reiterated a Buy rating on the stock with a $94 price target.

Based on PDC Energy’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $172 million and GAAP net loss of $55.64 million. In comparison, last year the company earned revenue of $79.75 million and had a GAAP net loss of $71.53 million.

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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.