Top 5 Small-Cap Stocks With Highest Upside Potential

4. PDC Energy, Inc. (NASDAQ:PDCE)

Number of Hedge Fund Holders: 24

PDC Energy, Inc. (NASDAQ:PDCE) operates as an independent exploration and production company that explores and develops crude oil, natural gas, and natural gas liquids in the United States. This April, PDC Energy, Inc. (NASDAQ:PDCE) announced that it expects to generate $1.3 billion in after-tax free cash flows with over $800 million of total investor returns in 2022. The company plans on investing up to $1 billion to increase its production to between 225,000 and 240,000 BOE per day and 74,000 to 81,000 BBLs of oil per day.

On May 4, PDC Energy, Inc. (NASDAQ:PDCE) released its financial statement for the fiscal first quarter of 2022 in which the company outperformed EPS consensus by $0.61. According to the company’s report, PDC Energy, Inc. (NASDAQ:PDCE) registered an EPS of $3.66 and generated revenues of 316.45 million, up 10.63% year over year from $286.04 million. As of May 18, the stock has surged by 56.79% over the past twelve months and has a forward price to earnings ratio of 3.73.

PDC Energy, Inc. (NASDAQ:PDCE) is becoming a popular stock on Wall Street. On April 21, Truist analyst Neal Dingmann raised his price target on PDC Energy, Inc. (NASDAQ:PDCE) to $96 from $80 and maintained a Buy rating on the shares. At the end of Q4 2021, Insider Monkey found 24 hedge funds bullish on PDC Energy, Inc. (NASDAQ:PDCE) with stakes worth $265.95 million. This is compared to 20 positions in the preceding quarter with stakes worth $189.02 million.

As of the end of this March, Harris Associates is the most bullish fund on PDC Energy, Inc. (NASDAQ:PDCE) owning over 2.17 million shares of the company. The investment covers 0.2% of Harris Associates’ 13F portfolio.