PDC Energy, Inc. (NASDAQ:PDCE) Director Lynn A. Peterson sold 5,000 shares of the company's stock in a transaction dated Wednesday, June 9th. The stock was 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 $10,513,837.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of PDCE traded up $0.83 during mid-day trading on Thursday, hitting $47.18. 1,092,871 shares of the company traded hands, compared to its average volume of 1,015,267. PDC Energy, Inc. has a 1-year low of $10.60 and a 1-year high of $47.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $4.59 billion, a P/E ratio of -17.22 and a beta of 3.41. The firm's 50 day simple moving average is $38.92.
PDC Energy (NASDAQ:PDCE) last posted its quarterly earnings data on Wednesday, May 5th. The energy producer reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.83 by $0.58. PDC Energy had a negative net margin of 30.91% and a positive return on equity of 14.11%. The firm had revenue of $286.04 million for the quarter, compared to the consensus estimate of $396.93 million. On average, sell-side analysts predict that PDC Energy, Inc. will post 4.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, June 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Partners LLC acquired a new position in shares of PDC Energy during the first quarter valued at about $293,000. Schroder Investment Management Group increased its holdings in shares of PDC Energy by 16.0% during the first quarter. Schroder Investment Management Group now owns 218,592 shares of the energy producer's stock valued at $7,520,000 after acquiring an additional 30,100 shares in the last quarter. Principal Financial Group Inc. increased its holdings in PDC Energy by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 938,517 shares of the energy producer's stock worth $32,284,000 after buying an additional 28,602 shares during the period. Kore Private Wealth LLC acquired a new position in PDC Energy in the 1st quarter worth approximately $305,000. Finally, Canada Pension Plan Investment Board increased its holdings in PDC Energy by 83,280.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,338 shares of the energy producer's stock worth $287,000 after buying an additional 8,328 shares during the period.
A number of analysts recently weighed in on the stock. TD Securities upped their price objective on shares of PDC Energy from $46.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday, May 7th. KeyCorp upped their price objective on shares of PDC Energy from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday. Zacks Investment Research lowered shares of PDC Energy from a "strong-buy" rating to a "hold" rating and set a $39.00 price objective for the company. in a research note on Tuesday, March 2nd. Seaport Global Securities reaffirmed a "buy" rating on shares of PDC Energy in a research note on Monday, April 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of PDC Energy from $30.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, February 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. PDC Energy has a consensus rating of "Buy" and a consensus target price of $33.08.
About PDC Energy
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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