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PDC Energy (NASDAQ:PDCE)’s Target is $51.0 After Initiated Coverage by Credit Suisse

Credit Suisse Analyst Rating Change PDC Energy NASDAQ:PDCE

PDC Energy (NASDAQ:PDCE) Price Target & New Coverage by Credit Suisse

Equities researchers at Credit Suisse gave “Neutral” rating on Pdc Energy (NASDAQ:PDCE). The firm started coverage in analysts report revealed to clients on Tuesday morning. Credit Suisse’s price target would suggest upside of 0.14 % from the company’s current stock price.

Out of 28 brokers covering PDC Energy, 0 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $81 and the lowest is $60 according to Thomson/First Call. The 12-month mean target is $71.11, which means upside potential of 12.41% over the current price.

Institutional Ownership

Scoria Capital Partners Lp had the most significant stake with ownership of 45,000 shares as of Q2 2015 for 6.74% of the US long equity exposure. Caymus Capital Partners L.P. is another quite bullish fund who is having 770,200 shares of PDC Energy or 6.03% of their US long equity exposure. Moreover, Mitchell Group Inc have 3.92% of their US long equity exposure invested in the company for 593,935 shares. The California-based fund Causeway Capital Management Llc disclosed it had purchased so far a stake worth about 2.75% of the fund’s stock portfolio in PDC Energy. The California-based fund Cambrian Capital Limited Partnership is also positive about the stock, possessing 1.89M shares or 1.51% of their US long equity exposure.

PDC Energy (NASDAQ:PDCE) Profile

PDC Energy, Inc. is an independent exploration and production company. The Company produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids (NGLs) with operations in the Wattenberg Field in Colorado and the Utica Shale in southeastern Ohio. The Company operates through two segments: Oil and Gas Exploration and Production, and Gas Marketing.

PDC Energy (NASDAQ:PDCE) traded up 2.76% on 12 December, hitting $63.26. A total of 639,954 shares of the company’s stock traded hands. This is down from average of 1.11M shares. PDC Energy has a 52 week low of $50.12 and a 52 week high of $84.88. The company has a market cap of $4.11B and a P/E ratio of 0.

Get the latest PDC Energy (NASDAQ:PDCE) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post PDC Energy (NASDAQ:PDCE)’s Target is $51.0 After Initiated Coverage by Credit Suisse appeared first on Octafinance.

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PDC Energy (NASDAQ:PDCE)’s Target is $51.0 After Initiated Coverage by Credit Suisse


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