Stifel Nicolaus Thinks PDC Energy’s Stock is Going to Recover

By Jason Carr

Stifel Nicolaus analyst Derrick Whitfield reiterated a Buy rating on PDC Energy (NASDAQ: PDCE) on May 23 and set a price target of $82. The company’s shares closed yesterday at $52.24, close to its 52-week low of $50.12.

According to, Whitfield is ranked 0 out of 5 stars with an average return of -6.3% and a 47.9% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Contango Oil & Gas Company, Sanchez Energy Corporation, and Abraxas Petroleum Corp.

PDC Energy has an analyst consensus of Moderate Buy, with a price target consensus of $78.38.

Based on PDC Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $193 million and quarterly net profit of $46.15 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.