What Do Analysts Recommend for PDCE after 1Q16 Results?
Why PDC Energy’s Stock Fell after 1Q16 Earnings
Analyst recommendations for PDC Energy
Following PDC Energy’s (PDCE) 1Q16 earnings, Wall Street analysts updated their target prices for the company for the next 12 months.
Consensus rating for PDC Energy
Approximately 79.3% of analysts rated PDCE as a “buy,” ~17.2% rated it as a “hold,” and ~3.5% rated it as a “sell.” The average broker target price of $70.37 for PDCE implies a return of around 22.8% over the next 12 months.
Upstream peers Whiting Petroleum (WLL), Oasis Petroleum (OAS), and EP Energy (EPE) have average broker target prices of ~$13.72, $9.47, and ~$4.29, respectively. These figures imply returns of 32%, ~9.3%, and -29%, respectively, in the next 12 months.
The high, low, and median analyst target prices for PDC Energy are $81, $60, and $70, respectively. PDC Energy is a component of the iShares US Oil & Gas Exploration & Production ETF (IEO).
Analyst target prices for PDCE
Scotia Howard Weil gave PDCE one of the most optimistic target prices of $80, implying a return of around 40% in the next 12 months.
Topeka Capital Markets also gave PDCE an optimistic target price of $72, implying a return of ~26% in the next 12 months.
Capital One Securities and RBC Capital Markets gave PDCE lower target prices of $69 and $66, respectively, implying returns of around ~21% and 15.8%, respectively, in the next 12 months.
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