Wells Fargo Believes PDC Energy (PDCE) Still Has Room to Grow

In a report released today, Nitin Kumar CFA from Wells Fargo maintained a Buy rating on PDC Energy (PDCEResearch Report), with a price target of $97.00. The company’s shares closed last Friday at $66.85, close to its 52-week high of $72.90.

According to, CFA is a 5-star analyst with an average return of 35.8% and a 87.6% success rate. CFA covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PDC Energy with a $82.22 average price target, which is a 23.0% upside from current levels. In a report issued on March 1, MKM Partners also maintained a Buy rating on the stock with a $84.00 price target.

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PDC Energy’s market cap is currently $6.44B and has a P/E ratio of 12.70.

Based on the recent corporate insider activity of 61 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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