PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) CEO Barton R. Brookman, Jr. sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $72.02, for a total value of $720,200.00. Following the transaction, the chief executive officer now owns 392,201 shares in the company, valued at $28,246,316.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ:PDCE traded up $0.75 on Tuesday, hitting $78.74. The company had a trading volume of 51,545 shares, compared to its average volume of 1,278,115. The firm’s 50-day simple moving average is $72.11 and its two-hundred day simple moving average is $62.08. PDC Energy, Inc. has a 1 year low of $34.52 and a 1 year high of $79.39. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 15.54 and a beta of 2.74.
PDC Energy (NASDAQ:PDCE – Get Rating) last posted its earnings results on Wednesday, May 4th. The energy producer reported $3.66 EPS for the quarter, topping the consensus estimate of $3.18 by $0.48. PDC Energy had a net margin of 26.48% and a return on equity of 38.99%. The firm had revenue of $316.45 million during the quarter, compared to analysts’ expectations of $702.98 million. During the same period last year, the company posted $1.41 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that PDC Energy, Inc. will post 17.84 EPS for the current year.
Several brokerages recently issued reports on PDCE. Truist Financial boosted their price target on PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. MKM Partners boosted their target price on PDC Energy from $72.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Stifel Nicolaus boosted their price objective on shares of PDC Energy from $82.00 to $87.00 in a research report on Monday, February 28th. StockNews.com began coverage on shares of PDC Energy in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, BMO Capital Markets upped their price objective on shares of PDC Energy from $65.00 to $73.00 in a research report on Tuesday, March 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, PDC Energy presently has a consensus rating of “Buy” and an average price target of $81.78.
Several institutional investors have recently modified their holdings of the stock. Gradient Investments LLC increased its stake in shares of PDC Energy by 27.4% in the 1st quarter. Gradient Investments LLC now owns 3,158 shares of the energy producer’s stock worth $230,000 after acquiring an additional 680 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in PDC Energy during the 1st quarter valued at about $459,000. Virtu Financial LLC bought a new stake in PDC Energy during the 1st quarter valued at about $370,000. Advisors Asset Management Inc. increased its stake in PDC Energy by 22.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,091 shares of the energy producer’s stock valued at $152,000 after purchasing an additional 383 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new stake in PDC Energy during the 1st quarter valued at about $3,469,000.
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.