Stifel Nicolaus Believes PDC Energy (PDCE) Won’t Stop Here

In a report issued on June 3, Michael Scialla from Stifel Nicolaus maintained a Buy rating on PDC Energy (PDCEResearch Report), with a price target of $128.00. The company’s shares closed last Monday at $84.45, close to its 52-week high of $84.84.

According to, Scialla is a 3-star analyst with an average return of 3.3% and a 41.0% success rate. Scialla covers the Utilities sector, focusing on stocks such as Whiting Petroleum Corporation, Occidental Petroleum, and Civitas Resources.

PDC Energy has an analyst consensus of Strong Buy, with a price target consensus of $105.63, representing a 25.0% upside. In a report issued on May 24, Johnson Rice also maintained a Buy rating on the stock with a $115.00 price target.

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Based on PDC Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $882 million and GAAP net loss of $31.96 million. In comparison, last year the company earned revenue of $468 million and had a GAAP net loss of $9.04 million.

Based on the recent corporate insider activity of 76 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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