PDC Energy, Inc. (NASDAQ:PDCE – Get Rating) Director Lynn A. Peterson sold 7,000 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $80.55, for a total transaction of $563,850.00. Following the transaction, the director now directly owns 296,167 shares in the company, valued at $23,856,251.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of PDCE traded down $6.60 during trading hours on Thursday, reaching $72.65. 1,578,337 shares of the stock traded hands, compared to its average volume of 1,412,322. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $74.23 and a 200 day simple moving average of $64.30. 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 $6.93 billion, a price-to-earnings ratio of 14.74 and a beta of 2.74.
PDC Energy (NASDAQ:PDCE – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The energy producer reported $3.66 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $702.98 million. During the same quarter last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts predict that PDC Energy, Inc. will post 18.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 23rd. Investors of record on Thursday, June 9th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, June 8th. This is an increase from PDC Energy’s previous quarterly dividend of $0.25. PDC Energy’s dividend payout ratio (DPR) is 27.89%.
Several brokerages recently issued reports on PDCE. Truist Financial increased their target price on shares of PDC Energy from $80.00 to $96.00 in a research note on Thursday, April 21st. Stifel Nicolaus increased their target price on shares of PDC Energy from $82.00 to $87.00 in a research note on Monday, February 28th. MKM Partners raised their price objective on shares of PDC Energy from $72.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. BMO Capital Markets raised their price objective on shares of PDC Energy from $65.00 to $73.00 in a research note on Tuesday, March 1st. Finally, TD Securities raised their price objective on shares of PDC Energy from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, March 2nd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $88.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp increased its stake in shares of PDC Energy by 1.5% in the fourth quarter. Synovus Financial Corp now owns 11,902 shares of the energy producer’s stock worth $583,000 after purchasing an additional 177 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in PDC Energy by 68.7% during the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 178 shares in the last quarter. Quadrant Capital Group LLC grew its stake in PDC Energy by 55.8% during the fourth quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 183 shares in the last quarter. First Republic Investment Management Inc. grew its stake in PDC Energy by 1.1% during the fourth quarter. First Republic Investment Management Inc. now owns 19,325 shares of the energy producer’s stock valued at $943,000 after acquiring an additional 202 shares in the last quarter. Finally, Eaton Vance Management grew its stake in PDC Energy by 2.9% during the first quarter. Eaton Vance Management now owns 8,320 shares of the energy producer’s stock valued at $605,000 after acquiring an additional 237 shares in the last quarter.
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.