PDC Energy, Inc. (NASDAQ:PDCE) Director Lynn A. Peterson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $46.65, for a total value of $233,250.00. Following the completion of the sale, the director now directly owns 225,377 shares of the company’s stock, valued at $10,513,837.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
PDC Energy stock traded up $0.83 during midday trading on Thursday, reaching $47.18. 1,092,871 shares of the stock traded hands, compared to its average volume of 1,015,267. The business has a 50-day simple moving average of $38.92. PDC Energy, Inc. has a 12-month low of $10.60 and a 12-month high of $47.99. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -17.22 and a beta of 3.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.36.
PDC Energy (NASDAQ:PDCE) last announced its earnings results on Wednesday, May 5th. The energy producer reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.58. PDC Energy had a positive return on equity of 14.11% and a negative net margin of 30.91%. The company had revenue of $286.04 million during the quarter, compared to analysts’ expectations of $396.93 million. On average, analysts expect that PDC Energy, Inc. will post 4.3 EPS for the current year.
A number of analysts have issued reports on PDCE shares. Seaport Global Securities reaffirmed a “buy” rating on shares of PDC Energy in a research note on Monday, April 5th. JPMorgan Chase & Co. raised their target price on PDC Energy from $30.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded PDC Energy from a “strong-buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research note on Tuesday, March 2nd. Wells Fargo & Company raised their target price on PDC Energy from $51.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 19th. Finally, TheStreet raised PDC Energy from a “d+” rating to a “c-” rating in a research report on Tuesday, March 16th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $33.08.
Institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its holdings in PDC Energy by 595.2% during the 4th quarter. Jennison Associates LLC now owns 2,881,926 shares of the energy producer’s stock valued at $59,166,000 after acquiring an additional 2,467,376 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of PDC Energy in the 1st quarter valued at about $3,908,000. Outfitter Financial LLC purchased a new position in shares of PDC Energy in the 1st quarter valued at about $288,000. Aperio Group LLC boosted its stake in shares of PDC Energy by 2.5% in the 4th quarter. Aperio Group LLC now owns 103,314 shares of the energy producer’s stock valued at $2,121,000 after buying an additional 2,568 shares during the period. Finally, KBC Group NV purchased a new position in shares of PDC Energy in the 1st quarter valued at about $49,000.
About PDC Energy
PDC Energy, Inc, an independent exploration and production company, acquires, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in the United States. The company's operations are primarily located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
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