Williams Capital Maintains Their Buy Rating on PDC Energy (PDCE)

By Ryan Adsit

Williams Capital analyst Gabriele Sorbara maintained a Buy rating on PDC Energy (PDCEResearch Report) today and set a price target of $55. The company’s shares opened today at $30.59, close to its 52-week low of $26.59.

According to TipRanks.com, Sorbara has 0 stars on 0-5 star ranking scale with an average return of -11.0% and a 32.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Currently, the analyst consensus on PDC Energy is a Moderate Buy with an average price target of $51, a 66.7% upside from current levels. In a report issued on January 30, Capital One Financial also upgraded the stock to Buy.

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Based on PDC Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.43 million. In comparison, last year the company had a net profit of $77.64 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock.

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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.