PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $87.14.
Several research firms have recently commented on PDCE. The Goldman Sachs Group decreased their target price on shares of PDC Energy from $87.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Wells Fargo & Company boosted their target price on shares of PDC Energy from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, July 11th. Truist Financial decreased their target price on shares of PDC Energy from $105.00 to $97.00 and set a “buy” rating for the company in a research report on Monday, August 15th. TheStreet raised shares of PDC Energy from a “c+” rating to a “b” rating in a research report on Wednesday, August 3rd. Finally, MKM Partners reissued a “buy” rating and set a $76.00 target price on shares of PDC Energy in a research report on Wednesday, July 20th.
Insiders Place Their Bets
In other PDC Energy news, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $65.86, for a total value of $461,020.00. Following the sale, the director now directly owns 275,167 shares in the company, valued at approximately $18,122,498.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO R Scott Meyers sold 1,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $64.54, for a total value of $64,540.00. Following the transaction, the chief financial officer now owns 115,128 shares of the company’s stock, valued at approximately $7,430,361.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $65.86, for a total transaction of $461,020.00. Following the completion of the transaction, the director now directly owns 275,167 shares in the company, valued at approximately $18,122,498.62. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $1,520,840 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On PDC Energy
A number of institutional investors have recently made changes to their positions in PDCE. Private Advisor Group LLC bought a new position in shares of PDC Energy in the 4th quarter worth $384,000. Invesco Ltd. grew its holdings in shares of PDC Energy by 13.8% during the 4th quarter. Invesco Ltd. now owns 638,377 shares of the energy producer’s stock valued at $31,141,000 after purchasing an additional 77,625 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of PDC Energy by 169.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 810 shares of the energy producer’s stock valued at $39,000 after purchasing an additional 509 shares during the last quarter. Credit Suisse AG grew its holdings in shares of PDC Energy by 11.4% during the 4th quarter. Credit Suisse AG now owns 166,704 shares of the energy producer’s stock valued at $8,131,000 after purchasing an additional 17,034 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of PDC Energy by 10.3% during the 4th quarter. Alliancebernstein L.P. now owns 170,281 shares of the energy producer’s stock valued at $8,306,000 after purchasing an additional 15,922 shares during the last quarter. Institutional investors own 96.91% of the company’s stock.
PDC Energy Price Performance
Shares of NASDAQ PDCE opened at $57.84 on Friday. The firm’s 50-day moving average price is $62.52 and its 200-day moving average price is $67.41. PDC Energy has a 1-year low of $43.22 and a 1-year high of $89.22. The firm has a market capitalization of $5.57 billion, a P/E ratio of 4.58 and a beta of 2.57. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.49.
PDC Energy (NASDAQ:PDCE – Get Rating) last posted its earnings results on Wednesday, August 3rd. The energy producer reported $5.11 EPS for the quarter, topping the consensus estimate of $4.57 by $0.54. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. PDC Energy had a net margin of 44.67% and a return on equity of 47.13%. Equities research analysts anticipate that PDC Energy will post 16.63 earnings per share for the current fiscal year.
PDC Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, September 7th. PDC Energy’s dividend payout ratio is presently 11.08%.
PDC Energy Company Profile
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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