Dimensional Fund Advisors LP lessened its position in PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,949,757 shares of the energy producer’s stock after selling 143,734 shares during the period. Dimensional Fund Advisors LP owned 5.37% of PDC Energy worth $286,048,000 at the end of the most recent reporting period.
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Other large investors have also added to or reduced their stakes in the company. Money Concepts Capital Corp lifted its position in shares of PDC Energy by 1.9% in the 3rd quarter. Money Concepts Capital Corp now owns 7,406 shares of the energy producer’s stock worth $428,000 after purchasing an additional 137 shares during the period. Apollon Wealth Management LLC lifted its position in shares of PDC Energy by 2.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,355 shares of the energy producer’s stock worth $367,000 after purchasing an additional 143 shares during the period. Securian Asset Management Inc. lifted its position in shares of PDC Energy by 1.8% in the 3rd quarter. Securian Asset Management Inc. now owns 8,794 shares of the energy producer’s stock worth $508,000 after purchasing an additional 154 shares during the period. Fifth Third Bancorp lifted its position in shares of PDC Energy by 23.6% in the 3rd quarter. Fifth Third Bancorp now owns 853 shares of the energy producer’s stock worth $49,000 after purchasing an additional 163 shares during the period. Finally, Van Hulzen Asset Management LLC lifted its position in shares of PDC Energy by 4.6% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 4,915 shares of the energy producer’s stock worth $284,000 after purchasing an additional 215 shares during the period. Institutional investors own 96.16% of the company’s stock.
PDC Energy Stock Up 6.5 %
Shares of PDC Energy stock opened at $67.35 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $6.21 billion, a PE ratio of 3.46, a price-to-earnings-growth ratio of 0.12 and a beta of 2.52. PDC Energy, Inc. has a 52-week low of $51.72 and a 52-week high of $89.22. The company has a 50-day simple moving average of $64.70 and a two-hundred day simple moving average of $66.38.
PDC Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Shareholders of record on Monday, December 19th were issued a $1.00 dividend. The ex-dividend date was Friday, December 16th. This is a boost from PDC Energy’s previous quarterly dividend of $0.35. This represents a $4.00 annualized dividend and a yield of 5.94%. PDC Energy’s payout ratio is 7.18%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Mizuho began coverage on shares of PDC Energy in a research report on Monday, January 9th. They issued a “buy” rating and a $97.00 target price for the company. StockNews.com cut shares of PDC Energy from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Truist Financial cut shares of PDC Energy from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research report on Monday, December 12th. Finally, The Goldman Sachs Group cut shares of PDC Energy from a “buy” rating to a “neutral” rating and set a $74.00 price target for the company. in a research report on Tuesday, October 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PDC Energy currently has an average rating of “Moderate Buy” and an average price target of $84.33.
Insider Transactions at PDC Energy
In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $74.98, for a total value of $149,960.00. Following the completion of the sale, the chief executive officer now directly owns 365,556 shares in the company, valued at $27,409,388.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Barton R. Brookman, Jr. sold 2,000 shares of PDC Energy stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $74.98, for a total value of $149,960.00. Following the completion of the sale, the chief executive officer now directly owns 365,556 shares in the company, valued at $27,409,388.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn A. Peterson sold 7,000 shares of PDC Energy stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $66.89, for a total transaction of $468,230.00. Following the completion of the sale, the director now owns 247,167 shares of the company’s stock, valued at $16,533,000.63. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock worth $2,130,425 over the last three months. 1.20% of the stock is currently owned by company insiders.
PDC Energy Profile
PDC Energy, Inc engages in the exploration and production of oil and natural gas. The firm acquires, explores, and develops properties for the production of crude oil, natural gas, and natural gas liquids. Its primary operations are located in the Wattenberg Field in Colorado and the Delaware Basin in Texas.
Further Reading
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