7. AFFORDABLE AND CLEAN ENERGY

Pacer Advisors Inc. Cuts Stock Position in PDC Energy, Inc. (NASDAQ:PDCE) – Defense World

Written by Amanda

Pacer Advisors Inc. trimmed its position in shares of PDC Energy, Inc. (NASDAQ:PDCEGet Rating) by 99.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 938 shares of the energy producer’s stock after selling 236,314 shares during the quarter. Pacer Advisors Inc.’s holdings in PDC Energy were worth $68,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Synovus Financial Corp grew its position in PDC Energy by 1.5% during the fourth quarter. Synovus Financial Corp now owns 11,902 shares of the energy producer’s stock valued at $583,000 after acquiring an additional 177 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of PDC Energy by 55.8% during the 4th quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 183 shares during the last quarter. First Republic Investment Management Inc. raised its position in PDC Energy by 1.1% in the 4th quarter. First Republic Investment Management Inc. now owns 19,325 shares of the energy producer’s stock worth $943,000 after purchasing an additional 202 shares during the period. Captrust Financial Advisors lifted its stake in PDC Energy by 5.6% in the third quarter. Captrust Financial Advisors now owns 5,020 shares of the energy producer’s stock worth $238,000 after purchasing an additional 265 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in PDC Energy by 12.4% during the fourth quarter. Gradient Investments LLC now owns 2,478 shares of the energy producer’s stock valued at $121,000 after buying an additional 274 shares during the period.

A number of research firms have recently weighed in on PDCE. Wells Fargo & Company boosted their target price on PDC Energy from $71.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 14th. Stifel Nicolaus increased their price objective on PDC Energy from $82.00 to $87.00 in a research note on Monday, February 28th. Truist Financial lifted their target price on shares of PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. TheStreet lowered shares of PDC Energy from a “b” rating to a “c+” rating in a report on Wednesday, May 4th. Finally, StockNews.com initiated coverage on shares of PDC Energy in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $88.00.

Shares of PDC Energy stock opened at $63.72 on Tuesday. The business has a 50 day moving average of $72.42 and a 200 day moving average of $65.25. PDC Energy, Inc. has a 52 week low of $34.52 and a 52 week high of $89.22. The company has a market cap of $6.08 billion, a PE ratio of 12.69 and a beta of 2.74. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.34.

PDC Energy (NASDAQ:PDCEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The energy producer reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.48. PDC Energy had a net margin of 26.48% and a return on equity of 38.99%. The business had revenue of $316.45 million for the quarter, compared to the consensus estimate of $702.98 million. During the same period in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that PDC Energy, Inc. will post 18.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Thursday, June 9th were issued a $0.35 dividend. The ex-dividend date was Wednesday, June 8th. This is a positive change from PDC Energy’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 2.20%. PDC Energy’s dividend payout ratio (DPR) is 27.89%.

In related news, CFO R Scott Meyers sold 1,000 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $73.14, for a total value of $73,140.00. Following the sale, the chief financial officer now directly owns 119,128 shares of the company’s stock, valued at $8,713,021.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $67.25, for a total value of $470,750.00. Following the completion of the transaction, the director now owns 300,499 shares of the company’s stock, valued at approximately $20,208,557.75. The disclosure for this sale can be found here. Insiders sold 55,038 shares of company stock valued at $3,973,756 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

About PDC Energy (Get Rating)

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.

See Also

Want to see what other hedge funds are holding PDCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDC Energy, Inc. (NASDAQ:PDCEGet Rating).

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai