KeyBanc Believes PDC Energy (PDCE) Still Has Room to Grow

KeyBanc analyst Leo Mariani maintained a Buy rating on PDC Energy (PDCEResearch Report) today and set a price target of $77.00. The company’s shares closed last Wednesday at $72.32, close to its 52-week high of $72.90.

According to, Mariani is a top 100 analyst with an average return of 35.0% and a 65.4% success rate. Mariani covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and California Resources Corp.

PDC Energy has an analyst consensus of Strong Buy, with a price target consensus of $82.78, which is a 17.2% upside from current levels. In a report issued on March 14, Wells Fargo also maintained a Buy rating on the stock with a $97.00 price target.

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PDC Energy’s market cap is currently $6.97B and has a P/E ratio of 13.74.

Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PDCE in relation to earlier this year.

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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. The company was founded in 1969 and is headquartered in Denver, CO.

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