JP Morgan:PDC Energy Inc (NASDAQ:PDCE) Valuation Insights

Share

How JP Morgan Currently Rates PDC Energy Inc (NASDAQ:PDCE)

In a comprehensive report finalized on Wednesday, 9 December, research analysts at JP Morgan started coverage on PDC Energy Inc (NASDAQ:PDCE) shares. The financial firm issued a key “Overweight” rating for PDCE stock.

From a total of 25 analysts covering PDC Energy (NASDAQ:PDCE) stock, 24 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 86% of the ratings are positive. The highest target price is $87 while the lowest target price is $61. The mean of all analyst targets is $72 with a 26.60% above today’s ($56.28) stock price. PDC Energy was the topic of 15 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 10 with “Overweight” rating. BMO Capital Markets maintained shares with “Outperform” rating and $72 target share price in a report from an August 11. Wunderlich maintained PDCE stock in a recent report from November 6 with “Buy” rating. Topeka Capital Markets maintained the rating on August 11. Topeka Capital Markets has a “Buy” rating and a $75 price target on shares. Finally, Credit Suisse maintained the stock with “Outperform” rating in a report issued on an August 21.

Approximately 739,532 shares of stock traded hands. PDC Energy Inc (NASDAQ:PDCE) has risen 4.29% since May 6, 2015 and is uptrending. It has outperformed by 5.08% the S&P500.

The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.50, from 1.5 in 2015Q2. The ratio turned negative, as 44 institutions have sold all the shares of PDC Energy Inc that they owned while 82 funds have taken shares off the table. 31 funds have purchased shares for the first time while 95 added to their positions. These institutions now hold 45.99 million shares or 1.06% less than the 46.48 million shares they owned in 2015Q2.

The Fund Brenham Capital Management L.P. currently is holding shares equating to 11.97% of its total portfolio in PDC Energy Inc representing a total of 1.05 million shares. Another fund,Caymus Capital Partners L.P., is holding a total of 554,000 shares equating to 5.95% of their holdings. Additionally, Delta Partners Llc has a 46,535 share stake in PDC Energy Inc which represents 3.88% of their total portfolio. The Fund, Alta Advisers Ltd, based out of United Kingdom, has also built up a stake in the stock, which represents a total of 3.84% of their total portfolio. Finally Mitchell Group Inc, a fund which is based in the state of Texas reported a total holdings of 540,283 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 16, 2015, shareholders of PDC Energy Inc have witnessed 0 insider buys, and a total of 2 sales equating to a net activity of approximately $35,365 . Parke David C sold 250 shares worth approximately $13,913. Swoveland Jeffrey C sold 4,000 shares worth approximately $227,040. Shellum Gysle R. sold 3,852 shares worth approximately $216,906.

PDC Energy Inc. is a domestic independent exploration and production Company, which produces, develops, acquires and explores for crude oil, natural gas and natural gas liquids . The company has a market cap of $2.25 billion. The Firm operates in two divisions: Oil and Gas Exploration and Production, and Gas Marketing. It has 98.07 P/E ratio. The Company’s Oil and Gas Exploration and Production segment primarily reflects revenues and expenses from the production and sale of crude oil, natural gas and NGLs, commodity price risk management, net, and well activities and pipeline income.

According to Zacks Investment Research, “PDC Energy, Inc. is engaged in acquiring, developing and exploring crude oil, NGLs and natural gas. It has operations primarily in the Western and Eastern regions of the United States. Its Western Operating Region is primarily focused on development in the Wattenberg Field in Colorado. Its Eastern Operating Region is focused on development activity in the liquid-rich portion of the Utica Shale play in Ohio. The Company is also focused on development drilling programs in resource plays. PDC Energy, Inc., formerly known as Petroleum Development Corporation, is based in Denver, Colorado.” Get a free copy of the Zacks research report on PDC Energy Inc (PDCE).

COMMENTS: