PDC Energy, Inc. (NASDAQ:PDCE) Director Lynn A. Peterson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $46.65, for a total transaction of $233,250.00. Following the completion of the sale, the director now directly owns 225,377 shares of the company’s stock, valued at approximately $10,513,837.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
PDCE opened at $47.18 on Friday. The stock has a fifty day moving average price of $39.15. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -17.47 and a beta of 3.41. PDC Energy, Inc. has a twelve month low of $10.60 and a twelve month high of $47.99. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.
PDC Energy (NASDAQ:PDCE) last issued its quarterly earnings data on Wednesday, May 5th. The energy producer reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.58. PDC Energy had a positive return on equity of 14.11% and a negative net margin of 30.91%. The business had revenue of $286.04 million for the quarter, compared to the consensus estimate of $396.93 million. Research analysts forecast that PDC Energy, Inc. will post 4.3 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in PDC Energy by 595.2% during the 4th quarter. Jennison Associates LLC now owns 2,881,926 shares of the energy producer’s stock worth $59,166,000 after purchasing an additional 2,467,376 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of PDC Energy during the first quarter worth $80,674,000. Price T Rowe Associates Inc. MD raised its holdings in shares of PDC Energy by 2,238.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,311,129 shares of the energy producer’s stock worth $45,103,000 after acquiring an additional 1,255,050 shares during the period. Channing Capital Management LLC bought a new stake in PDC Energy in the 4th quarter valued at $22,731,000. Finally, Boston Partners acquired a new position in PDC Energy in the 1st quarter worth $24,541,000.
A number of research analysts have commented on the company. KeyCorp increased their price objective on PDC Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday. Seaport Global Securities reiterated a “buy” rating on shares of PDC Energy in a research report on Monday, April 5th. Wells Fargo & Company boosted their price objective on PDC Energy from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, May 19th. Zacks Investment Research lowered shares of PDC Energy from a “strong-buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research note on Tuesday, March 2nd. Finally, TheStreet upgraded shares of PDC Energy from a “d+” rating to a “c-” rating in a research report on Tuesday, March 16th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. PDC Energy presently has a consensus rating of “Buy” and an average price target of $33.08.
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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