X
<

Barclays Is Optimistic about These 5 Stocks for Rest of 2017

PART:
1 2 3 4 5
Barclays Is Optimistic about These 5 Stocks for Rest of 2017 PART 1 OF 5

Why Barclays Is Positive on PDC Energy

Barclays’s top stock picks

In a recent note, investment firm Barclays (BCS) discussed 42 of its top stock picks for the rest of the year that have the potential to provide strong returns. The top five stocks were PDC Energy (PDCE), Goldcorp (GG), Lululemon Athletica (LULU), United Continental Holdings (UAL), and Jazz Pharmaceuticals (JAZZ).

Why Barclays Is Positive on PDC Energy

Interested in PDCE? Don't miss the next report.

Receive e-mail alerts for new research on PDCE

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Barclays on PDC Energy

PDC Energy is an independent oil (USO) (DBO) and natural gas (UNG) exploration and production company. It also operates in gas marketing. According to Barclays, the stock has the potential to rise nearly 79% from its closing price of $44.72 on June 23, 2017. It has provided a price target of $80.

Barclays wrote, “PDC Energy’s stock price has underperformed high growth peers by 13% year-to-date while its relative valuation discount is currently 25%, perhaps prompted by concerns around the resilience of its asset base to lower oil prices.”

The stock has dropped nearly 45% on a year-to-date basis, as of June 27, 2017. In the past year, the stock dropped nearly 26%. Its 52-week high is $84.88, and its 52-week low is $41.11. It is currently trading at $41.12, which is near its 52-week low. The stock provided negative earnings growth both in 2015 and 2016. It’s trading at a price-to-earnings multiple of -17.66x. The Energy Select Sector SPDR ETF (XLE), which tracks the performance of the energy sector, has fallen nearly 14.7% on a year-to-date basis, as of June 27, 2017.

In the next part of this series, we’ll analyze Barclays’ views on Goldcorp.

X

Please select a profession that best describes you: